By Siddesh Suresh Mayenkar 1 February 2015
Dubai: Rasmala plans to launch its second leasing fund for the investors in the region by second quarter this year and aims to collect $100 million (Dh367 million) from investors, a senior official told Gulf News. The Rasmala Leasing Fund offers investors a low risk, stable and attractive return profile by investing primarily in operating leases entered into with predominantly US domiciled investment grade lessees like Cargill, McDonalds Corporation among 30 other companies.
“It’s a good product for diversification. It allows investors to diversify assets away from the region. It’s mainly meant for conservative investors,” Eric Swats, head of asset management, Rasmala told Gulf News.
The fund targets an Internal Rate of Return, which is the interest rate at which the net present value of all the cash flows from a project, of 7 per cent.
The equipment finance market, in which 8 out of 10 companies lease some or all of their equipment, was projected to reach $860 billion in 2014.