Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Monday announced launching a new Healthcare Pharmaceuticals Equities Basket Note.
The new Shariah-compliant note is designed to capitalise on the forecasted growth of the healthcare industry, ADIB said in a statement.
It added that the note matures in 12 months and provides 100% capital protection at maturity to minimise investment risk.
“The note is currently open for subscription until 25 May 2017 and offers a 3-month lock-in period. The minimum investment for the note is $30,000,” the statement showed.
ADIB’s product offers exposure to investors through “a basket of leading international companies operating across the healthcare pharmaceutical sectors, including Celgene Corp, Merck & Co., Novartis AG, Novo Nordisk and Pfizer INC,” the Abu Dhabi-based bank added.
The note will mature on 4 April 2018 and return could reach up to 10.25%.
Spending on global healthcare is forecasted to reach $8.7 trillion by 2020, according to a recent Deloitte study.
“Over the past couple of years, we have seen an increase in demand for notes that provide capital protection, such as ADIB’s Shariah-compliant products. This new note is part of the bank’s strategy to offer customers with wealth-tailored management solutions that address specific financial while maintaining a diversified investment portfolio,” commented ADIB global head of liabilities and wealth management Daffer Luqman.
