Federal Bank, in association with Equirus Wealth, has launched a “US Dollar offshore fund” exclusively for their customers.
This is in collaboration with SCUBE Capital, a Singapore-based global fund management company.
Both NRI and Resident customers of Federal Bank will be able to invest in this fund. The fund offers a portfolio return (IRR) guidance of around $6.50 per cent per annum with a fund tenor of three years from the date of fund closure with an option to extend by one year.
“The Portfolio is managed by a highly skilled team with a cumulative experience of over 70 years in managing investments of over $50 billion,” as per an official release.
Holistic wealth management
Shalini Warrier, Executive Director & Business Head – Retail, Federal Bank, said, “We have always strived to bring the best of products and services to our customers, and the newly introduced US Dollar Offshore Fund is an example of this. The offer has been specially curated by our partner, Equirus Wealth, along with SCUBE Capital and is only available to Federal Bank customers.”
Ajay Garg, Managing Director - Equirus Group, added, “Our constant endeavour is to provide holistic wealth management solution to our clients. The product offers attractive risk-adjusted returns given the low debt yield environment. While this is our first exclusive product for Federal Bank clients, we are very keen to create a pipeline of such exclusive offerings, going forward.”
“SCUBE Capital is pleased to partner Federal Bank and Equirus to offer this exclusive offering to Federal Bank’s clients. The fund has been jointly designed with inputs from the Equirus and the Federal Bank team, in keeping with the spirit of collaboration. The investment strategy seeks to offer superior risk-adjusted-return for investors against the backdrop of rock bottom interest rates,” said Hemant Mishr, Co-Founder and CEO, Asset Management, SCUBE Capital, Singapore.