Emirates NBD Asset Management to Manage Customer Risk Strategies for Al Hilal Takaful B.S.C (c)

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  • Emirates NBD Asset Management is now managing 3 risk-graded Shari’a compliant strategies for Al Hilal Takaful’s customers, Bahrain’s leading Takaful provider
  • Al Hilal will have access to global sukuk, global equity, MENA equity and emerging market opportunities funds
  • Emirates NBD Asset Management’s AuM reached USD 4.49 bn as at 31st July 2017

Dubai, United Arab Emirates: Emirates NBD Asset Management, one of the Middle East’s leading asset managers with USD 4.49 billion in assets under management (AuM), has been appointed by Al Hilal Takaful, Bahrain’s top provider of family Takaful services, to manage three risk-graded Shari’a compliant investment strategies. Through Emirates NBD Asset Management’s range of Shari’a products, Al Hilal will gain exposure to global Sukuk, global equity, MENA equity and emerging market opportunities.

Al Hilal Takaful, which was originally established in 2009 and is 100%-owned by Bahrain’s Ahli United Bank BSC (AUB), selected Emirates NBD Asset Management on the basis that it provides one of the Middle East’s largest range of Shari’a compliant funds. The fund range was most recently expanded to include Sharia’ compliant Indian equities, through the Emirates Islamic India Equity Fund, which is sub-advised by UTI International.

Commenting on the appointment, Salman Bajwa, Senior Executive Officer of Emirates NBD Asset Management, said:

“We’re pleased to be working with Al Hilal Takaful, who are Bahrain’s leading family Takaful provider. Their decision to appoint Emirates NBD Asset Management to manage these three strategies is a clear testament to the quality and range of our Shari’a funds, which we’ve worked hard to grow and develop in recent years. We are looking forward to working closely with Al Hilal Takaful to deliver consistent and positive returns, and I’m pleased to say that their low-risk mandate will be run by the same fixed income team that manages the award-winning Emirates Global Sukuk Fund.”

Al Hilal Takaful’s policies will be linked to three investment strategies, categorized as ‘Conservative’, ‘Balanced’ and ‘Growth’. The conservative strategy is a Sukuk-focused mandate, while the Balanced and Growth strategies will access global Sukuk, global and MENA equities and emerging markets.

Emanuel Lantzos, Chief Executive Officer of Al Hilal Takaful, commented:

“We are motivated and inspired by opportunities that help our customers achieve their personal and family financial goals. This appointment is one such opportunity. In Emirates NBD Asset Management, we now have access to the investment capabilities of one of the region’s best Shari’a compliant fund managers. Their fund range is among the broadest and best-performing in the industry. We are reassured by the experience and expertise of the Emirates NBD Asset Management team, and look forward to working closely with them for the benefit of our customers.”

Emirates NBD Asset Management is the wholly-owned subsidiary of Emirates NBD Bank, one of the largest banks by assets in the MENA region. The Company provides a wide range of investment solutions, from in-house managed public funds to tailor-made discretionary solutions. It manages funds across a variety of asset classes, including MENA equity and global fixed income, global risk profiled solutions, UAE real estate, and a wide range of Shari’a compliant instruments.

Al Hilal Life BSC was first established in 2009 as a joint venture between Legal & General Group Plc and Ahli United Bank, with a vision to be the first choice for protection and savings in the Middle East. In October 2015, Legal and General Group Plc sold its 50% stake in Al Hilal Life BSC to Ahli United Bank BSC (AUB) who now holds 100% of Al Hilal Life’s shares. Al Hilal Takaful is a wholly owned subsidiary of Al Hilal Life, and focuses on Family Takaful.

About Emirates NBD Asset Management:

Emirates NBD Asset Management Limited (Emirates NBD Asset Management), established in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority as a Category II Firm, is the wholly owned asset management business of Emirates NBD Bank, one of the largest banks by assets in the MENA region. Emirates NBD Asset Management provides a wide range of investment solutions, from in-house managed public funds to tailor-made discretionary solutions. It manages funds across a variety of asset classes, including MENA equity and global fixed income, global risk profiled solutions, UAE real estate, and a wide range of Shari’a compliant instruments, structured to cater for diverse risk appetites.

Each of the Emirates NBD Asset Management managed funds are currently domiciled in either Jersey (regulated by the Jersey Financial Services Commission) or Luxembourg (regulated by the Luxembourg Commission de Surveillance du Secteur Financier). As at 31st July 2017, Emirates NBD Asset Management had assets under management of approximately USD 4.49 billion.

About Al Hilal Life:

Al Hilal Life BSC was first established in 2009 as a joint venture between Legal & General Group Plc and Ahli United Bank, with a vision to be the first choice for protection and savings in the Middle East. In October 2015, Legal and General Group Plc sold its 50% stake in Al Hilal Life BSC to Ahli United Bank BSC (AUB) who now holds 100% of Al Hilal Life’s shares. Al Hilal Takaful is a wholly owned subsidiary of Al Hilal Life, and focuses on Family Takaful.