Lahore, December 30, 2013 (PPI-OT): Securities and Commodities Authority (SECA) UAE has recently given approval for distribution of three additional funds managed by UBL Fund Managers in the United Arab Emirates.
UBL UAE will now have a total offering of seven mutual funds from UBL Fund Managers for its customers. This is the first time that any asset management company originating from Pakistan has been given the permission of providing a diverse range of investment from fixed income/commodity/equity products in UAE.
A signing ceremony in this regard was recently held at the Management Office of UBL International in Dubai. Mr. Wajahat Husain, Head of International United Bank Ltd, signed for UBL UAE, while Mir Muhammed Ali, inked the agreement on behalf of UBL Fund Managers, of which he is the CEO.
Also present at the occasion were Mr. Asad H. Burney GM UAE, Mr. Abbas Masud, Head of Operations and Corporate Communications/ Marketing UBL International, Mr. Hassan Haroon, Head of Retail Banking, UAE and Mr. Asif Rashid Baloch, Manager NRP Business, UAE.
At the signing ceremony, Mr. Wajahat Husain said, “UBL is dedicated to the development of their NRP banking business model in the Middle East by offering a wide range of investment solutions to the Pakistani Residents”. It is to be noted that UBL Bank is the first bank in region to have a dedicated PakistaniNon-Resident Banking program.
Mir Muhammad Ali, CEO UBL Funds reiterated the mission of UBL Fundsat, “We are offering opportunities to UAE based individuals to invest in Pakistan through a broad range of instruments that are managed by top professionals in the industry and have with them more than a decade of experience in managing investments in Pakistan” he further added that, “ This approval is an encouraging step for us and a great source of pride as this is the first time that an Asset Management Company based out of Pakistan will offer a range of funds to the general public in UAE.”
UBL Funds has proven to be the most innovative Asset Management Company in Pakistan introducing unique product structures to Investors who are usually restricted to traditional investment avenues with minimum, fixed returns.
UBL Funds takes the lead in having diverse offerings for investors to choose from, ranging from need based investment plans for regular contribution to Mutual Funds and Separately Managed accounts as well as Retirement and Voluntary Pension Schemes.
Established in 2001 and regulated by the Securities and Exchange Commission of Pakistan, UBL Fund Managers has been one of the leading asset management companies of Pakistan for over a decade, and now has presence in the Middle East as well. UBL Fund Managers enjoys the prestigious High Management Quality Rating of AM2 by JCR-VIS Credit Rating Company.
For more information, contact:
Head of Marketing and Alternative Distribution Channels
UBL Fund Managers Limited
4th Floor, STSM Building,
T: (+92-21) 111-825-262 Ext 161
F: (+92-21) 35622793
M: (+92) 300-8251222
Category: General Business News