Mashreq Capital

What Mashreq Capital does

Mashreq Capital (DIFC) Limited is a Dubai-based, DFSA-regulated asset manager incorporated in the Dubai International Financial Centre on 7 February 2006 and operates as a wholly owned subsidiary of Mashreq Bank PSC. The firm manages six public funds and a portfolio of discretionary mandates, serving institutional investors, ultra-high-net-worth individuals, distribution channel partners (financial advisors and professional managers), retail investors, and Shari'ah-compliant investors across the MENA region with global developed- and emerging-market reach. Its product suite spans conventional and Islamic strategies, including the Mashreq Al Islami Income Fund (Sukuk), MENA Fixed Income and Equity funds, the Global Emerging Market Bond Fund, three Fund-of-Funds portfolios (Growth, Balanced, Conservative) targeting 6%, 5%, and 4% net-of-fees absolute returns respectively, and BITMAC (launched December 2025) — the region's first DFSA-licensed multi-asset class fund incorporating Bitcoin alongside equities, fixed income, and gold under quarterly rebalancing. The firm also offers tailored discretionary mandates for UHNW and institutional clients with customized reporting, attribution analysis, and Shari'ah-compliant options.

Mashreq Capital generates revenue primarily through recurring management fees (0.20% to 1.50% across share classes), performance fees on certain equity strategies (15% of excess return above a 10% hurdle with a high-water mark), subscription fees up to 5%, and redemption fees up to 2%, with bespoke pricing on discretionary mandates. Its go-to-market blends enterprise field sales to institutional and UHNW clients, channel distribution through financial advisors, and a self-serve digital channel via Mashreq Bank's online platform (including QR-code onboarding for BITMAC). The operational stack comprises a portfolio management information system supporting attribution analysis, tracking error, and performance reporting, combined with systematic quarterly rebalancing. Service providers include Apex Fund Services (registrar/transfer agent), First Abu Dhabi Bank (custodian), Deutsche Bank (Sukuk fund administrator), Deloitte (auditor), and Bloomberg (data).

The firm is recognized as one of the longest-tenured asset managers in the MENA region (Conventional Equity Fund track record since 2005), was ranked in Forbes' Top 30 Biggest Asset Managers in the Middle East in 2021, holds a Moody's MQ2 rating, and has received multiple Lipper and MENA Fund Manager awards. Leadership includes CEO Philip Philippides, Head of Fixed Income Amol Shitole (CFA), Fixed Income Portfolio Manager Jack Norbury, and the recently appointed Head of Multi-Asset & Absolute Return Strategies Andreas Anthis.

Name

Mashreq Capital

Legal name

Mashreq Capital (DIFC) Limited

Website

https://mashreqcapital.ae

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Mashreq Capital is a DFSA-regulated, DIFC-domiciled asset manager and wholly owned subsidiary of Mashreq Bank PSC, managing six public funds plus discretionary mandates for institutional investors, ultra-high-net-worth individuals, financial advisors, and retail clients across the MENA region.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (52591), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG)

akta.pro secondary industries

Multi-Sector / Total Return Fixed Income (FSAAAHAJ), Digital Assets / Crypto Fund of Funds (FSAHAKAL)

Keywords

• Asset management services
• Investment fund management
• Shariah compliant investing
• Multi-asset class funds
• Discretionary portfolio management

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Fees: Ongoing management fees charged on fund assets under management. For Global Growth Fund: 0.20% AA class, 0.50% IA class. For Global Conservative Fund: various share classes. For Equity Fund: 1.50% CA class, various others.
2. Performance Fees: 15% of excess return above a 10% hurdle rate per annum based on a high water mark for Mashreq MENA Equity Fund.
3. Subscription Fees: Up to 5% subscription fee for various fund share classes.
4. Redemption Fees: Redemption fee of up to 2% of the Redemption Price. Additional exit loads within first 12 months for certain funds.
5. Discretionary Mandate Fees: Customized investment solutions with tailored fee structures for institutional and UHNW clients based on specific objectives, asset class, income requirements, time horizons, and risk tolerances.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Mashreq Capital is a DFSA-regulated asset manager that runs public mutual funds and discretionary portfolios across conventional and Shari'ah compliant strategies. Its product range covers MENA equity, MENA fixed income, global emerging market bonds, and global multi-asset class fund-of-funds, plus the BITMAC fund (the region's first multi-asset fund incorporating Bitcoin alongside equities, fixed income, and gold). Investment solutions are tailored to institutional investors, Ultra High Net Worth Individuals, distribution partners, and retail investors via the Mashreq Bank platform.

Product overview

Mashreq Capital offers a comprehensive suite of investment solutions consisting of nine distinct fund products and discretionary mandate services. The product portfolio includes: BITMAC (Bitcoin and Multi-Asset Class Fund) as the innovative flagship product incorporating digital assets; Mashreq Al Islami Income Fund for Shari'ah compliant investments; three MENA-focused funds (Mena Fixed Income, Mena Equity, and Global Emerging Market Bond Fund); and three Global Portfolio funds (Growth, Balanced, and Conservative) structured as Funds of Funds. Additionally, Discretionary Mandates provide customized one-client investment strategies. All funds are DFSA-regulated and domiciled in DIFC, with six public funds currently managed alongside discretionary portfolios for institutional investors and UHNWIs.

Differentiator

Problem solved

Functional benefit

Brands

• BITMAC: Bitcoin and Multi-Asset Class Fund - The region's first multi-asset class fund to incorporate Bitcoin, combining equities, fixed income, gold, and Bitcoin within a DIFC-domiciled, DFSA-regulated fund-of-funds structure.

Products and services

• BITMAC (Bitcoin and Multi-Asset Class Fund) A multi-asset class fund-of-funds combining global equities, global fixed income, gold, and Bitcoin within a DIFC-domiciled, DFSA-regulated structure. It maintains a 90% allocation to traditional assets and 10% to gold and Bitcoin, with quarterly systematic rebalancing. It targets retail investors and is accessible through the Mashreq Bank online platform with QR-code onboarding and a USD 100 minimum subscription.
• Mashreq Al Islami Income Fund (Sukuk Fund) A Shari'ah compliant open-ended fund that provides shareholders with returns through investments in Shari'ah compliant fixed income securities approved by the Shariah Supervisory Board, benchmarked against the Bloomberg Global Agg USD Sukuk Index. Targeted at investors seeking Islamic finance-compliant fixed income exposure.
• Mashreq Mena Fixed Income Fund

Quantifiable outcome

• Forbes Top 30 biggest asset managers in Middle East 2021
• +5 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• Apex Fund Services (Dubai) Ltd.coreOthersRegistrar and Transfer Agent for Mashreq Capital funds, providing fund administration services including NAV calculations, shareholder registry, and transfer processing.
• First Abu Dhabi Bank PJSCcoreOthersCustodian for Mashreq Capital funds, providing safekeeping of assets, settlement services, and corporate action processing.
• Deutsche BankcoreOthersAdministrator for Mashreq Al Islami Income Fund (Sukuk Fund), providing fund accounting and valuation services.
• Deloitte LLPcoreOthersAuditor for Mashreq Capital funds, providing independent financial statement audits and assurance services.
• Mashreq Bank PSCcoreStrategic or Co-development PartnerParent company and primary distribution channel. Wholly owned subsidiary relationship with Mashreq Bank PSC, one of UAE's leading financial institutions. Provides branch network and online platform for product distribution.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Emirates NBD Asset Management: UAE bank-owned asset management arm operating similar multi-asset, MENA equity, and fixed income fund suite under DFSA; closest direct competitor in product scope, regulatory regime, and distribution model.
• FAB Asset Management (First Abu Dhabi Bank): UAE bank-owned asset manager running MENA equities, fixed income, and global multi-asset funds under ADGM; comparable in captive-bank distribution and DFSA-equivalent regulation.
• ADCB Asset Management: Abu Dhabi bank-owned asset manager offering MENA and global funds with conventional and Shari'ah-compliant options; directly comparable in scale, product mix, and UAE-centric distribution.

Regional players

• SNB Capital: Saudi Arabia's largest asset manager (formerly NCB Capital) running MENA equities, fixed income, and Shari'ah-compliant funds; comparable in GCC-bank ownership and Islamic + conventional dual offering, though primarily Saudi-distributed.
• Al Rajhi Capital: Saudi bank-owned asset manager with strong Shari'ah-compliant franchise and MENA/global funds; regional peer focused on Saudi market with comparable Shari'ah supervisory model.
• National Bank of Kuwait Wealth: Kuwaiti bank-owned wealth and asset management arm offering MENA and global funds; comparable in GCC-bank-owned captive model with conventional and Islamic capabilities.

Broad incumbents

• Franklin Templeton MENA: Global asset manager with MENA distribution including emerging market fixed income and Sukuk strategies (e.g., Franklin Global Sukuk Fund); directly competes with Mashreq Global EM Bond Fund and Sukuk offerings.
• HSBC Asset Management Middle East: Global incumbent with established DIFC presence offering MENA equities, Sukuk, and multi-asset funds; competes with Mashreq Capital across institutional and HNW segments in the UAE.
• BlackRock MENA: Global asset manager with growing UAE presence offering iShares ETFs and institutional multi-asset solutions; represents competitive pressure in the institutional and UHNW mandate space.
• Schroders MENA: Global asset manager with Dubai office offering emerging market debt, Sukuk, and multi-asset strategies; competes with Mashreq Capital for GCC institutional and family office mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCz8V8y1_h6xzjAxuZ3WL1_A
• LinkedInlinkedin.com/company/mashreq-capital-difc-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mashreq Capital