Ghorayeb and Chaar launched the LIBANK GBF two months ago with an initial issuance of $10 million.
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Lebanese high-net-worth individuals have the option to choose between a dozen locally marketed funds.The Global Balanced Fund by the Levant Investment Bank (LIBANK) is promising its clients exactly that.Launched in March 2015, the open-ended fund is managed by Cayman Islands-based LIBANK Investment Management Company and co-managed by LIBANK, an investment bank licensed in 2012 by Lebanon's Central Bank, and listed with the Association of Banks in Lebanon.Two months ago, Ghorayeb and Chaar launched the LIBANK GBF with an initial issuance of $10 million.Chaar says LIBANK GBF will invest 50 percent of the value of its assets in fixed-income securities, mainly Lebanese bonds, and 50 percent in international equities.IVenture Investment Management HK, on the other hand, will advise the fund on Asian equities.
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