MANAMA, 18 June 2003 — Bahrain based Taib Bank has completed a second $100 million investment in the capital guaranteed Chambord Fund in conjunction with BNP Paribas, it was announced yesterday.
“This time the investment will be for five years, based on the fund’s solid performance in the three years from 2000 to 2003 when it recorded a growth of 29 percent,” said bank Vice-Chairman and Chief Executive Officer Iqbal Mamdani. “The new Chambord will also have the feature of principal protection”, he added. The Note has been structured such as to afford a lot of flexibility and choice to investors, particularly in regard to the use of leverage and in respect of early redemption, he explained.
This is the second time that Taib Bank has invested in Chambord. In the first three-year investment in 2000, the fund had a volatility of just 1.8 percent up to March and produced returns of 29 percent.
The Chambord Fund is advised out of London by Financial Risk Management, which is a London-based firm with a 12-year record in the hedge fund advisory business and with $4.5 billion of funds currently under management.
