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Emirates NBD Asset Management strengthens partnership with Jupiter to more than AED 500 million AuM

  • Emirates NBD Asset Management strengthens partnership with Jupiter to more than AED 500 million AuM

Emirates NBD Asset Management strengthens partnership with Jupiter to more than AED 500 million AuM

Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD, today announced the expansion of its partnership with Jupiter Asset Management, one of the UK’s leading fund groups.

Jupiter has been appointed delegate investment advisor for the AED70 million Emirates Emerging Market Equity Fund, bringing its total assets under management (AuM) for Emirates NBD AM to AED 570 million. The Emirates Emerging Market Equity Fund is an open-ended investment company domiciled in Jersey, Channel Islands.

The announcement marks the completion of a one year successful partnership between the two firms, with Jupiter appointed last year as delegate investment advisor for Emirates NBD AM’s conventional multi-asset class global fund range. Jupiter’s multi-manager team currently manages funds such as the Emirates Active Managed Fund, Emirates Balanced Managed Fund and Emirates Global Quarterly Income Fund, and with this recent announcement, the partnership has witnessed a 50per cent growth in AuM over the last twelve months.

The collaboration will strengthen Emirates NBD AM’s global offering by providing diversification outside MENA markets and complements the firm’s in-house managed expertise. Jupiter’s emerging markets team currently manage a combined total AuM of USD 1.02 billion. The firm is currently the seventh largest fund manager of United Kingdom retail mutual funds with a total USD 52.9 billion in assets as at 30 June 2014.

Commenting on the expanded partnership, David Marshall, Senior Executive Officer of Emirates NBD Asset Management stated, “Emirates NBD Asset Management’s relationship with Jupiter has enhanced our value proposition to clients, enabling us to leverage on Jupiter’s global expertise to match our in-house research-centered approach to fund management.

“The tie-up also provides us access to new markets, in line with our growth strategy. 2014 has been a year of robust growth, and we anticipate our renewed partnership with Jupiter to further reinforce our current leadership position in the region,” added Marshall.

Kevin Scott, Head of EMEA, Jupiter Asset Management said: “We are delighted to have built such a close and constructive working relationship, over the past year, with Emirates NBD, one of the region’s leading providers of financial services.

“To have been awarded a global emerging markets mandate in addition to the multi-asset range we manage on Emirates NBD Asset Management’s behalf, is a significant opportunity for us to further deepen this tie-up. From a strategic perspective, this is a very important part of the world to develop Jupiter’s profile as there is such great potential in the Middle East.”

Emirates NBD Asset Management, regulated by the Dubai Financial Services Authority (DFSA), is a leading asset manager in the Middle East region, and manages a range of products including MENA equity and fixed income funds and portfolios, UAE real estate, global risk profiled funds and a complete range of Shari’a compliant instruments.

The firm recently won prestigious recognition by Global Investor/ ISF including ‘CEO of the Year’ and ‘Fixed Income Manager of the year’ Other recent awards include: ‘Best Investment Management Company 2014, UAE’ at the World Finance Investment Management Awards 2014 in London, as well as ‘Best Regional Fund Manager’ at the Banker Middle East Industry Awards. The firm also received a number of regional awards at the MENA Fund Manager Performance Awards 2014, including: UAE Asset Manager of the Year; MENA Equity Fund of the Year and Balanced Fund of the Year.