FGB Wealth Sentiment Index score up 0.3% in February

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Index score increases from 1017.41 in January to 1020.52 in February 2017

FGB, one of the leading banks in the UAE, has announced the latest score of its Wealth Sentiment Index, which has increased from 1,017.41 in January to 1,020.52 in February, up 0.31% from the previous month. The score was revealed during a ceremony attended by FGB representatives at the FGB Sheikh Zayed Road office in Dubai. General sentiment in the UAE remains cautiously optimistic.

Huda Abdulla Mohammed, Head of the Emirati Segment in FGB, commented: “I am delighted to launch the February Index and to be a part of this important initiative for FGB Wealth. The Wealth Sentiment Index presents high net worth Emiratis and expats in the UAE with a unique insight into the mood of the market.”

IPSOS Head of Research Odisseas Trikaliotis, Senior Research Director noted: “The February score indicates a continuing positive outlook in the economy, due to a combination of factors. These include crude oil prices crossing the $50 barrier, which will have a positive impact on the UAE economy, alongside an increase in the Purchasing Managers’ Index (PMI) and stock movements in the UAE. At the same time, an increase in inflation and drop in occupied room nights affected sentiment adversely.”

The FGB Wealth Sentiment Index, the first-of-its-kind for the UAE and MENA region, was launched in partnership with research agency, IPSOS, and insurance provider, Generali, in January 2017, and established to measure the prevailing mood of affluent investors in the UAE market, from a personal and business point of view. It is an indicator of the overall sentiment of the market, based on existing fundamental and economic factors.

FGB Wealth is committed to enabling customers to grow, protect or transfer their wealth through the help of dedicated wealth managers and a disciplined four-step wealth management programme. This includes understanding each customer’s needs and goals, assessing their risk profile, developing and implementing a complete financial plan and providing expert advice about any changes or new opportunities.

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