Press Room
28/05/2008 Al Mal Capital Introduces Al Mal MENA Equity Fund
Posted on 28 May 2008
Date 28 May 2008
Al Mal Capital Introduces Al Mal MENA Equity Fund
Addition to fund range to search out regional growth opportunities
Al Mal Capital, the UAE-based investment company, announced today the launch and initial offering period for the Al Mal MENA Equity Fund. The fund, registered in Bahrain and denominated in US Dollars, will invest primarily in listed equities of companies based in the Middle East and North Africa. It will be an open-end fund with weekly subscription and redemption.
Al Mal Capital has introduced several products in recent years, including the Al Mal Real Estate Fund, investing in regional real estate opportunities, along with the Al Mal Capital Partners Fund and Al Fares Private Equity Fund, focusing on MENA pre-IPO private equity investments. The company’s other fund concentrating on listed equities, the top performing Al Mal UAE Equity Fund, has outperformed the MSCI UAE Index by a margin of 35% since the Fund was launched in April 2006.
“Our expertise in Asset Management has been evident in the outstanding performance of the products that we have introduced, each of which we have supported by investing our own capital”, said Naser Nabulsi, Executive Chairman of Al Mal Capital. “In addition, there is a compelling set of conditions, with the macroeconomic backdrop assisted by oil prices, and the multiyear building boom underway, to encourage both regional and international investors to participate in the regional equity story. We believe that we have seen only the beginning of the significant growth in MENA stock markets”, indicated Nabulsi.
“Our fund management team is dedicated to achieving consistent outperformance with a lower level of risk than the markets”, said Blair Look, Managing Director of Asset Management at Al Mal Capital. “In the Al Mal MENA Equity Fund, having identified longer term themes impacting the region, we intend to participate in the growth of companies that are succeeding at exploiting them. One clearly evident example is the large scale infrastructure buildout taking place across the MENA region”, highlighted Look.
“As always, however, one needs to be mindful of valuations, and identify the best growth opportunities available at the most reasonable prices”.
The initial price of units of the fund will be set at $10.00, and there will be a minimum initial subscription to the fund of $250,000. The initial subscription period for the Al Mal MENA Equity Fund will extend from May 25th to June 15th, 2008.
About Al Mal Capital:
Al Mal Capital is a diversified, multi-line Investment Company headquartered in Dubai, UAE and licensed and regulated by the Central Bank of the United Arab Emirates.
Al Mal Capital offers a wide range of investment products and services for institutions, banks and wealthy individuals, encompassing Investment Banking, Brokerage and Asset Management.
For More Information Contact:
Mary Rutter
Corporate Communications
P.O. Box 119930
Dubai, UAE
Mary.Rutter@almalcapital.com