Kochi, Jan 19 (UNI) Federal Bank in association with Equirus Wealth launched 'US Dollar Offshore Fund' exclusively for their customers, the company announced on Wednesday.

This is in collaboration with SCUBE Capital, a global fund management company based out of Singapore, a press release said on Wednesday.

Both NRI and Resident customers of Federal Bank can invest in this fund that offers a portfolio return (IRR) guidance of USD 6.50 per cent per annum with a fund tenor of 3 years from the date of fund closure with an option to extend by 1 year.

The portfolio is managed by a highly skilled team with a cumulative experience of over 70 years in managing investments of over USD 50 billion.

Speaking on the occasion, Shalini Warrier, Executive Director and Business Head – Retail, Federal Bank said “We have always strived to bring the best of products and services to our customers, and the newly introduced US Dollar Offshore Fund is an example of this."

"The offer has been specially curated by our partner, Equirus Wealth along with SCUBE Capital and is only available to Federal Bank customers. We are confident our customers will find this offer attractive and useful”.

Adding to the above, Ajay Garg, Managing Director, Equirus Group, said "Our constant endeavor is to provide holistic wealth management solution to our clients. The product offers attractive risk-adjusted returns given the low debt yield environment. While this is our first exclusive product for Federal Bank clients, we are very keen to create a pipeline of such exclusive offerings going forward."

Mr Hemant Mishr, Co-Founder and CEO, Asset Management, SCUBE Capital, Singapore, added that “SCUBE Capital is pleased to partner Federal Bank and Equirus to offer this exclusive offering to Federal Bank’s clients."

"The fund has been jointly designed with inputs from the Equirus and the Federal Bank team, in keeping with the spirit of collaboration. The investment strategy seeks to offer superior risk-adjusted-return for investors against the backdrop of rock bottom interest rates.”

Federal Bank in association with their associate partner Equirus Wealth has been offering a bouquet of comprehensive tailor-made wealth management solutions to customers since 2018.

Customers who wish to invest into this new scheme or those who want to know more about the product proposition can reach out to Federal Bank Investment Relationship Manager directly or email them at [email protected] for support.

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