New Abu Dhabi investment bank eyes women's wealth
ABU DHABI (Reuters) - A new investment bank in Abu Dhabi is targeting wealthy women in the oil-exporting emirate, which has one of the highest levels of income per capita in the world, saying women have different investment needs than men.
Al Bashayer Investment Company, whose senior officers are women based in the conservative capital of the United Arab Emirates, will offer corporate advisory, investment banking and brokerage alongside its wealth management services.
"Very few services are given to women in the field of investments here. Women will be our focus clients," chairwoman Fatima Al Jaber told reporters on Monday. "We want to create women's wealth."
Some women investors have different risk appetites and their investment objectives and expectations are different. Many of these investors do not get the services they require, she said.
Bashayer plans to raise $100 million by year-end through its debut fixed income fund. So far, the fund has raised $38 million, said Sara Ismail, chief executive officer.
"We found that investors are looking for short-term fixed income products with higher returns than deposit rates," she said.
The one-year term fund has an indicative 13 percent rate of return, paying two coupons semi-annually.
Forty percent of the company's shares are held by women.
(Reporting by Stanley Carvalho; Editing by Louise Heavens)
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