Federal Bank in tie up with Singapore's Scube Capital launches debt fund

PTI | Mumbai | Updated: 28-01-2022 14:14 IST | Created: 28-01-2022 14:01 IST
Federal Bank in tie up with Singapore's Scube Capital launches debt fund
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Leading private sector lender Federal Bank has launched a debt/bond fund with a targeted AUM of USD 200 million in association with the Singapore-based fund manager Scube Capital and Equirus Wealth.

Only NRI customers of the Kochi-based bank can invest in the US dollar fixed maturity bond fund, which targets to mop up around USD 200 million, Hemant Mishr, co-founder and chief executive of Scube Capital, told PTI on Friday.

Scube manages funds across alternate investments, fixed income, and multi-asset investments serving different investor segments and has a collective AUM of around USD 300 million.

Mishr said this fund is open to only the non-resident customers of the bank and his company will be the fund manager. The fund will invest in US-dollar denominated fixed income instruments of Indian and global issuers and will offer a portfolio leveraged target return guidance of 6.50 percent per annum.

The fund, which has been jointly designed with inputs from the Equirus and the Federal bank teams, has a three-year tenor from the date of fund closure, with an option to extend by one year, he added. Shalini Warrier, an executive director & retail banking head at Federal Bank, said the US dollar offshore fund is specially curated by Equirus Wealth and Scube and is only available to its NRI customers.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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