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Global asset manager Franklin Templeton is launching seven feeder funds in the UAE targeted at retail investors.
The funds, domiciled in the Dubai International Financial Centre, will offer access to a range of asset classes, sectors and geographies, including global and regional fixed income, technology and Shariah-compliant strategies.
The feeder funds will be distributed in the UAE by locally licensed promoters, including onshore, conventional and Shariah-compliant consumer banks.
“The UAE remains our biggest retail market in the region, and we continually strive to deepen our local presence by strengthening our relationships with clients,” Amar Mehta, head of retail, Gulf, Eastern Mediterranean and Africa at Franklin Templeton said.
“We will continue to monitor trends in the local market and the evolution of investors’ appetite to expand our offerings in the future.”
Earlier in July, Allianz Global Investors and Daman Investments PSC announced onshore feeder funds for retail investors in the UAE.
(Writing by Brinda Darasha; editing by Seban Scaria)