TAKAUD TARGETS ONE BILLION DOLLAR CLUB

Takaud, provider of savings, investment and pensions, launched its new wealth management division yesterday.

The new advisory platform, according to the company, will help investors to choose with the aid of expert advice from the offerings of globally respected investment-houses.

Takaud aims to reach one billion US dollars assets-under-management within the next five years.

The savings and pensions company allows its investors the flexibility to withdraw their funds on an immediate basis and allows switching between funds. Also, it has made an agreement with all its fund-partners that ensure zero fees for its customers, unlike the existing practice of charging hefty fees up front. Also, the fees charged by Takaud will be flexible and negotiable and will not be based on the percentage of assets managed, according to Loay Ragheb, Takaud’s Chief Commercial Officer.

Luc Metivier, the Chief executive officer of Takaud, welcomed investors to try its wealth management services even with an amount as low as US $ 100,000 compared to the usual threshold mark of one million dollars.

“Transparency for investor funds will be provided by allowing its clients to monitor their holdings on a real-time basis. Also, all the funds that have been listed under Takaud offering will be marked based on daily net-asset-value calculation, and thus makes it easy for investors to track their investment performance” the CEO added.

The company claims that the open architecture platform provided by them is the first of its kind in the GCC and MENA region. Takaud aims to reach US dollar one billion asset size within five years.

The correlation among the offerings will be reduced through and segregation through qualitative and quantitative parameters, the company management added.

The company has been on a hiring spree in Bahrain and has already recruited more than 50 employees in Bahrain, according to its top officials.

Takaud is part of the US$ 32 billion KIPCO Group with operations in more than 24 countries.