Abu Dhabi: A new wealth management company headed by women and targeting women investors and high net-worth individuals announced the start of operations in Abu Dhabi yesterday.
Al Bashayer Investment Company has a paid-up capital of Dh50 million and has an investment banking licence from the UAE Central Bank. The company will offer services under four categories: wealth management, corporate advisory services, investment banking and brokerage services.
Al Bashayer is currently marketing a bond leverage product under which it plans to raise $100 million (Dh367 million) by the end of the year. The total amount is to be invested in a portfolio of local and regional investment graded bonds and there's an indicative return of 13 per cent for the investor. The product is managed by Falcon Private Bank, a Switzerland-based international private bank which is owned by the Abu Dhabi-based Aabar Investment.
"In the pre-launch of the bond leveraging note, we raised $32 million, which is under our management," Al Bashayer's chairman Fatima Al Jaber told reporters at a news conference.
"Dh1 million is the minimum investment in all funds we launch in the market," said Sara Esmail Mohammad, Al Bashayer's chief executive officer.
"We will target women as our focused clients. We understand that there are a lot of high net-worth women investors in the region who are seeking professional advice and personalised services to manage their wealth," said Al Jaber.
