Takaud is targeting $1 billion wealth management portfolio

27/04/2015 06:59 AST

Bahrain-based savings and pensions provider Takaud yesterday launched a wealth management platform targeting a portfolio of more than $1 billion in three years.

The company's chief executive Luc Metivier told a Press conference at the Capital Club Bahrain that the service was meant for the 'affluent currently underserved by traditional banking services'.

Personalised advisory and bespoke investment solutions are being offered to clients wanting to invest at least $50,000 to $100,000.

Mr Metivier, who was joined by Takaud chief commercial officer Loay Ragheb and chief marketing and communications officer Ebrahim K Ebrahim, said the portfolio is expected to grow to $5bn in 20 years.

'Our differentiator is that we are fusing industry leading financial planning practices from developed markets with regional cultural knowledge and investment expertise.

Private banks and wealth managers generally charge upwards of 5pc of portfolio value as fees from their clients and Takaud would charge 1-2pc, he said.

'We would also look to negotiate zero fee deals from our investment partners including Black Rock, BNP, Dexia, Robeco, Franklin Templeton, PIMCO, Pictet, and Schroder, which would then be passed on to our clients,' Mr Metivier added.

Mr Ragheb said once clients sign-up after in-depth consultations, a comprehensive image of their finances, life goals and objectives would be put together.

'A multi-stage financial planning process would follow and a personal adviser would guide them on the most appropriate investment solutions to create a balanced investment portfolio.

'They will get regular portfolio reviews, full briefings on where their assets are invested, in addition to regular and up-to-date performance data and benchmarking to assess overall performance.

'For clients with significant investable assets, Takaud would also act as a discretionary fund manager and actively manage the client's money, aiming to generate superior long-term returns,' he said.

Takaud has paid-up capital of $35 million and is licensed as an investment business firm (Category 1) by the Central Bank of Bahrain.

It is co-owned by Kuwait's Kipco Group and United Gulf Bank, each having 50pc stake.

Gulf Daily News