Dubai – Mubasher: Mashreq Bank, listed on the Dubai Financial Market (DFM), revealed its three-and-a-half years fixed maturity plan (FMP) series 2 has lured AED 191 million in subscriptions within four weeks of its launch.
The FMP series 2 was arranged by the bank’s investment arm Mashreq Capital (DIFC), according to a press release.
The second series targets higher yields with a shorter maturity duration, Mashreq Bank indicated.
The series investment portfolio includes major institution and brand names such as JP Morgan, Jaguar Land Rover, and Adani Ports amongst others.
Oliver Kettlewell, head of fixed income at Mashreq Capital, said: “As regional investors look to diversify their assets, the FMP series offers them with attractive yields and regular payouts within a globally diversified portfolio of investments spread across the Americas, Europe, Asia and the GCC.”
“Mashreq Bank’s clients who have previously invested in Mashreq’s FMP Plan 1 are on track to receive 5.2% annual yield with quarterly distribution. We are confident of delivering similar results for our investors as part of the series 2 plan,” Kettlewell noted.
It is worth noting that the initial offering period was open from 21 May until 25 June 2019.
