StanChart Unveils CIO Funds AUM, Launches Islamic Suite
Standard Chartered has disclosed the amount of assets raised for its democratized version of discretionary mandates and expanded the offering with Shariah-compliant solutions.
Standard Chartered raised over $3 billion in its «Signature CIO (chief investment office) Funds» in the past three years after its 2022 launch, according to a statement.
The funds were designed to democratize the bank’s discretionary portfolio management offering, traditionally only available to high net worth clients in the private banking unit. The strategies are built using a range of diversified multi-asset funds and exchange-traded fund portfolios, which includes equities, bonds, commodities, liquid alternatives and cash. They are now available to wealth and retail banking clients across 12 markets globally.
Since inception, the funds have seen an average compound annual growth rate of 5.6 percent to 15.7 percent.
Shariah-Compliant Offering
To further expand its offering, Standard Chartered is launching its Shariah-compliant Signature CIO Islamic Funds, starting in the UAE and Nigeria. The funds will be managed by Aditum Investment Management, advised by the British lender on asset allocation and a quantitative manager for global Islamic equities. Aditum will also manage the Sukuk allocation.
«We have seen strong demand for our Signature CIO Funds across our markets, testifying to our expertise in providing our clients with personalized advisory to help them capture market opportunities, leveraging our CIO insights underpinned by decades of market research experience,» said Samir Subberwal, global head, wealth solutions, deposits and mortgages, and chief client officer, Standard Chartered.
