Bank Sarasin is creating a new asset management company for high net worth individuals in the Gulf and Middle East and North Africa regions, the Swiss-based group said in a statement on Monday.

The newly created company, Sarasin-Alpen and Partners, is a joint venture between Bank Sarasin-Alpen (ME) Ltd of Dubai and Sarasin and Partners of London and will also create investment solutions for institutional investors, the bank said.

'The creation of Sarasin-Alpen & Partners Ltd will further enhance the Group's possibilities to leverage the professional international asset management framework provided by Sarasin and Partners, the London based specialist investment management firm of the Group,' Sarasin said in a statement.

The new company will also look to bring Sharia-compliant versions of existing and new Sarasin funds as well as to construct structured products which will offer features such as capital protection, Sarasin said.-Reuters