Italy’s independent asset manager Azimut and Alfalah GHP Investments, a Pakistan asset manager, have signed a strategic partnership agreement to jointly launch an international equity fund focused exclusively on Pakistan’s stock market.
This equity fund, AZ – Alfalah Pakistan Equity fund will capitalise on the track record of Alfalah GHP Stock fund.
The fund will be established by AZ Fund Management S.A., Azimut’s Luxembourg fund management company, within its UCITS umbrella fund.
The strategic partnership also aims to explore further joint marketing and commercial initiatives in Pakistan and the MENA region with a view to bringing Pakistan’s lucrative investment story to investors globally.
Alfalah Investments CEO, Maheen Rahman, said: “Our partnership with Azimut offers the global investing community a chance to partake in this rising economic prosperity by bringing together the potent combination of our expertise in local markets and Azimut’s significant investment and fund capabilities and distribution network in emerging and developed markets.
“The outreach of the Azimut Group when combined with the expertise of Alfalah Investments in the Pakistan market would unlock synergies, which we understand have never before materialised on such a scale.”
Sergio Albarelli, CEO of Azimut Holding, said that the strategic partnership with Alfalah Investments will provide Azimut global investors access to new markets through AZ fund, its UCITS platform in Luxembourg and our recent announcement on the launch of a MENA equity fund, this is one of the very first Pakistan focused funds offered by a global asset manager.
“It is a further progress in our plans to establish and develop a unique fund management range in the wide Middle Eastern and neighbouring Southern Asia region.”
Azimut had entered into an agreement to acquire 20% of Mofid Entekhab (Entekhab), the largest independent asset management company of Iran, part of Iranian financial advisory and brokerage group Mofid last month.