Arab Emirate Fujairah’s National Bank has announced the launch of Future Value Protected Product, a private equity product it designed for investors seeking medium-term asset diversification.The ABN Amro-structured product invests in a US and European Private Equity Share basket, equally weighted among ten listed private equity companies, and pays 95% participation in the basket with full capital protection.

“Such products are targeted at investors looking for security, diversification with greater returns compared to bank deposits,” said general manager Asad Ahmed. The bank regularly includes structured products in its range.

Minimum investment is US$50,000. A 2% early redemption fee will be charged for the first year, 1%, with no redemption charges from the third year on. The product is open now and closes 31 October.

National Bank of Fujairah reported a 40% increase in 2006 half-year profits to AED105m (28.6m) over the same period of 2005.