NCB Capital, the largest asset manager in Saudi Arabia, has decided to widen its investor base by launching a range of Dublin-domiciled Islamic mutual funds.
NCB Capital, which manages more than $12bn in assets, has launched two Ucits-compliant funds that invest in Saudi Arabian and Gulf Co-operation Council (GCC) equities, according to Reuters.
Further funds are due to be added to the range, including funds investing in sukuk, or Islamic bonds. Plans include launching up to ten funds in 18 months.
The new funds range is part of a strategy to attract emerging markets investors. NCB plans to market the funds globally through French asset manager Amundi.
“We are very keen on offering a gateway to the region. The hope is to have a broad investor base,” Faysal Badran, chief investment officer and head of asset management at NCB Capital, told Reuters.
Market
Emerging Markets latest
Regions
Financial Library is a whitepapers, research and briefings distribution service that is designed to provide users a quick and easy way of keeping ahead of business and market developments.
Print Edition
Strong demand for emerging market debt and equity assets should remain, according to experts in the field.
Events
A selection of key moments caught on camera from InvestmentEurope's recent Pension Fund Forum in Zurich have been published.
A selection of key moments caught on camera from InvestmentEurope's recent Fund Selector Forum in Geneva have been published.
Visitors Comment Add your comment