Dubai, UAE – 6 October 2026: ASB Capital, a purpose-driven asset and wealth management firm with assets under management (AUM) of USD 10.2 billion, announced the launch of the ASB Principal Multi-Asset Fund (the Fund) in partnership with Principal Asset Management®️ . The Fund is designed to provide investors with diversified global exposure across multiple asset classes through a single offering.
The ASB Principal Multi-Asset Fund invests in equities, fixed income, and private markets offering investors a broader approach to diversification. Through the partnership, the Fund combines ASB Capital’s investment platform and client reach with the global asset allocation capabilities and investment expertise of Principal.
The launch supports ASB Capital’s strategy to develop investment solutions aligned with clients’ income, diversification, and liquidity requirements. It also provides clients with an accessible core portfolio solution to obtain diversified exposure across markets, asset classes, and investment strategies.
Commenting on the launch, Rafik Nayed, Managing Director of ASB Capital, said: “The ASB Principal Multi-Asset Fund has been designed for investors seeking diversified global exposure through a single, actively managed solution. Rather than requiring clients to construct and continuously manage allocations across separate funds and securities, the Fund brings these exposures together within a disciplined investment framework that can respond to changing market conditions.”
He added: “Our partnership with Principal combines its global investment and asset-allocation capabilities with ASB Capital’s platform and comprehensive product suite. The inclusion of both public markets and selected private-market opportunities expands the investment universe available to clients and represents another important step in building a comprehensive range of solutions across different risk profiles and investment horizons”.
“Effective multi-asset investing requires investors to draw on a broad opportunity set and actively assess where risk-adjusted returns can be found across public and private markets. Through this collaboration, ASB Capital can access the global asset allocation expertise and specialist investment teams across equities, fixed income and private markets offered by Principal to help deliver a diversified solution tailored to the needs of investors in the Middle East,” said Thomas Cheong, Executive Vice President of Principal Financial Group and President of Asia Pacific and Middle East.”
The launch further expands ASB Capital’s investment platform across public and private markets and reinforces its objective of delivering managed solutions aligned with clients’ evolving portfolio-allocation requirements.
