Doha, 18 November 2009 – QNB Note 1, a structured note recently launched by QNB Group, that received an overwhelming response from investors is now closed for subscription having raised more than four times the expected amount.
The reasons for the overwhelming response can be attributed to it being the first 100% capital guaranteed note on a basket of Qatari stocks.
Moreover its unique risk control mechanism to reduce risks for investors through volatility control and averaging of returns were a further attraction given the general volatility of the Qatar Stock Market and recent investor experiences.
QNB Note 1 was another example of QNB Group’s in-house capability of structuring unique products. QNB Note 1 was issued by the QNB Group’s private banking subsidiary QNB Banque Privée Suisse, incorporated in Geneva, Switzerland. QNB Banque Privée Suisse offers international expertise uniquely coupled with a local banking relationship through QNB Private in Qatar. From every day banking needs to investment and wealth management advice and solutions, QNB Private and QNB Banque Privée Suisse together offer a broad range of innovative banking services tailored to suit the lifestyles of its customers.
This is just the first step towards a series of innovative investment solutions that QNB intends to provide in the future. The success of this Note demonstrates the maturity and vibrancy of the Qatari Market.
It may be recalled that QNB was reported as the top fund manager by Zawya a number of times in the past and is the largest fund manager in Qatar, managing six funds and a number of portfolios.