The constituent funds in the Northstar portfolios are all registered with the UAE’s Securities and Commodities Authority (SCA) to comply with the new mutual fund rules introduced last August.
Under the new rules, from early 2017 any UAE resident retail client should only have funds registered with SCA offered to them.
“The evolving regulatory landscape has created some uncertainty with regard to what type of solutions can be offered to clients, which the Northstar Middle East Model Portfolios seek to address,” said Northstar’s principal representative in Dubai, Sanjeev Chowdhury.
“I look forward to working closely with our advisers in the region on this exciting new offering, as well the other innovative investment solutions in Northstar’s expanding product range,” he said.
Regional commitment
Northstar’s vice chairman, Mark Rogers, said: “The introduction of the Middle East Model Portfolios further demonstrates Northstar’s commitment to the region.
“We will continue to monitor the regulatory landscape and list of SCA registered funds to ensure that our product offerings remain compliant and relevant to the local market,” he said.
Northstar said the funds in the model portfolio are selected from its range of leading asset managers using fundamental criteria and are then run through rigorous statistical analysis, looking at a variety of historical performance and risk metrics.
It added that fund assessment and risk monitoring is conducted on an ongoing basis across a number of categories to ensure the funds and models continue to meet the original criteria.
Bermuda style
“As with all Northstar solutions, clients also enjoy the benefits of a Bermuda offshore trust structure, which include financial security and enhanced wealth transfer flexibility,” it said.
Established in Bermuda in 1998, Northstar has clients in over 100 countries and focuses solely on providing financial solutions to non-US clients. It offers a range of fixed-rate and variable investment plans to its client base.
In addition to Bermuda and Dubai, the company also has offices in London and the US.
