Fed Bank launches $-offshore fund

Federal Bank and Equirus Wealth have together launched a ‘US dollar offshore fund’ for their customers. This is in collaboration with SCUBE Capital, a global fund management company based out of Singapore.

NRI and resident customers of Federal Bank can invest in this fund that offers a portfolio return (IRR) guidance of ~ $6.50% per annum with a fund tenor of three years from the date of fund closure with an option to extend by one year. The portfolio is managed by a highly skilled team with a cumulative experience of over 70 years in managing investments of over $50 billion.

Speaking on the occasion, Shalini Warrier, executive director & Business Head – Retail, Federal Bank said, “The offer has been specially curated by our partner, Equirus Wealth along with SCUBE Capital and is only available to Federal Bank customers.”

Ajay Garg, managing director – Equirus Group, said, “the product offers attractive risk-adjusted returns given the low debt yield environment. While this is our first exclusive product for Federal Bank clients, we are very keen to create a pipeline of such exclusive offerings going forward.”

Hemant Mishr, co-founder and CEO, Asset Management, SCUBE Capital, Singapore, added that “The fund has been jointly designed with inputs from the Equirus and the Federal Bank team, in keeping with the spirit of collaboration. The investment strategy seeks to offer superior risk-adjusted-return for investors against the backdrop of rock bottom interest rates.”