Federal Bank has launched a debt/bond fund with a targeted AUM of $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 $200 million.
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 per cent per annum.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.
