Bank of Beirut to
launch new fund

Targets Treasury bills

Bank of Beirut (BoB) will launch a new lira denominated investment fund, next month.

“The new fund is still in the build-up stage. It will invest in Treasury bills issued by the State, in addition to preferred shares of Alpha group of banks,” said Mona Gabriel, Head of Assets and Fund Management at BoB.

The open-ended fund will consist of two investment classes, accumulation shares with no dividend payments and income shares, through which dividends are paid every three months.

“It is a conservative investment, where the investor may have a higher return than from a bank deposit and benefit from a lower risk,” said Gabriel.

The life of the fund will be unlimited. “We have already started its promotion through our branches,” said Gabriel.

Besides the upcoming fund, BoB manages two investment funds of more than $500 million in assets, one denominated in lira and another in US dollars.