Emirates NBD launches umbrella fund in DIFC: Emirates NBD Asset Management has established its first public fund, dubbed FundStar, in Dubai International Financial Centre (DIFC), the lender said in a statement. The umbrella fund will house multiple feeder and master funds across “a broad range of asset classes and geographies,” including conventional and Shariah-compliant equity, fixed income, and multi-asset strategies.

The details: The fund will have a minimum investment ticket of USD 1k or AED 1k, and will offer quarterly income distributions. The new fund will allow investors to invest in foreign funds in highly regulated jurisdictions like Luxembourg via its feeder sub-funds.

What’s next? The fund will offer its shares for UAE-based retail investors through an initial public offering.

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