Emirates NBD Asset Management and BlackRock have launched two income-focused funds for retail and wealth clients, a year after starting a partnership that has attracted $350 million in assets under management.
The new products are the FundStar Emirates CLO AA Fund and the Emirates Systematic Income and Growth Fund, the Dubai lender’s asset management arm said in a statement on Tuesday. Both are now available to Emirates NBD’s wealth and retail clients.
The launch moves the partnership beyond private-market products that were initially offered only to professional clients and into public fund structures for a broader base of retail investors.
The CLO fund, sub-managed by BlackRock, invests in investment-grade collateralized loan obligations backed by senior secured corporate loans in the United States and Europe. It targets an average portfolio credit rating of AA, with no exposure below investment grade, daily liquidity and no leverage.
The second fund allocates across globally diversified income-producing assets without a fixed benchmark. BlackRock is its investment advisor, while Emirates NBD Asset Management handles portfolio management. The fund targets a quarterly distribution of 7% a year, net of fees.
BlackRock manages more than $40 billion in global CLO strategies, according to the statement.
“The success of this initiative in the first 12 months reflects the immense appetite in our region for sophisticated, yield-generating solutions,” said Michail Samawi, senior executive officer of Emirates NBD Asset Management.
Keith Saldanha, head of wealth and global product solutions for the Middle East and Africa at BlackRock, said the firm saw “significant opportunity for both CLO and systematic strategies within wealth portfolios.”
Emirates NBD and BlackRock first announced plans for the platform in March 2025.
