Under the terms of the agreement, Acordias will market Emirates NBD managed funds that invest across a range of mandates and asset classes, including the Middle East and North Africa.
Emirates NBD Asset Management CEO Deon Vernooy said that the bank believes that this tie up will enable international investors to access NBD’s managed funds through Acordias’ best of breed financial products and tax-efficient wrap solutions.
This agreement is the latest step in the fund manager’s strategy to increase third-party distribution partnerships and follows its foray into Singapore in 2010.
Acordias CEO Andrew Wilkins said that the Emirates funds were overweight oil rich nations and underweight equities prior to the recent unrest and have therefore faired well against peers and benchmarks.
"They offer an interesting opportunity to access a region which because of recent anxiety has potential for healthy returns over the medium to long term. As such we think that they are a great addition to our platform," Wilkins said.
European institutional and professional investors now have access to investment fund products managed by Emirates NBD Asset Management through the Emirates NBD London Branch, an FSA regulated firm that acts as a distributor of the products.
Emirates NBD Asset Management is a wholly-owned subsidiary and the asset management division of Emirates NBD, a banking group in the region.
