ASB Capital, an emerging asset management company, is gearing up for its official launch with an impressive $4.5 billion in assets under management. Authorized by the Dubai Financial Services Authority (DFSA), this new entity is an initiative of Al Salam Bank, the largest Islamic bank in Bahrain. ASB Capital will be headquartered in the Dubai International Financial Centre (DIFC) and promises to revolutionize the region’s financial market.
The announcement of ASB Capital’s creation was made during the Gateway Gulf Investment Forum, held recently in Bahrain in early November 2024. The company enters the market with a clear promise: to provide a diversified platform for wealth and asset management, accessible to institutional investors, high-net-worth individuals, and corporations. ASB Capital sets itself apart by integrating cutting-edge technological solutions into its investment product offerings.
The new company’s strategy is built on four crucial areas: public markets, private markets, investment banking, and placement. ASB Capital has established exclusive partnerships with some of the world’s leading asset managers. In its initial portfolio, it highlights the launch of a specialized global equity fund, complemented by a series of passive investment products in partnership with globally recognized exchange-traded fund (ETF) providers. It also plans to expand into the realm of private markets, including venture capital and private equity, in collaboration with established partners.
ASB Capital’s focus is closely aligned with the growing regional demand for specialized asset management services and advisory in the Middle East and North Africa (MENA) region. It is currently managing two active investment banking mandates in the region, allowing it to offer valuable insights in a highly dynamic market.
As an integral part of the Al Salam Bank Group, ASB Capital has a significant strategic advantage, leveraging synergies within the group to strengthen its position in the MENA region. The company’s operational structure, ASB Capital Services, based in Bahrain, is designed to support economic growth and enhance Bahrain’s position as a leader in Islamic finance and asset management.
With the aim of increasing its assets under management, ASB Capital is committed to establishing itself as one of the top 10 asset managers in the region. Its focus is on building a brand of excellence in wealth and asset management, aligning with the changing needs of its clients.
Rafik Nayed, CEO of the Al Salam Bank Group and Managing Director of ASB Capital, stated that the company’s launch marks a crucial milestone in providing comprehensive and market-leading financial solutions. He emphasized that the exclusive fund and ETF partnerships are the first steps towards setting new standards in asset and wealth management offerings in the region.
via: MiMub in Spanish
