SECO Capital, the Saudi Arabia based asset manager, is offering investors direct access to the country via its first in house managed fund – GCC Equity – a Luxembourg based fund that will be seeded with $30m at launch.
The fund sits alongside thirteen other funds from the manager, which offer exposure to different geographies and asset classes, including equity, real estate investment trusts, local and international property, provate equity, commodities and timber.
The GCC Equity fund will be managed by Yazan Abdeen, previously at ING Investment Management.
SEDCO Capital CEO, Hasan Al Jabri, said: “MENA is currently one of the most exciting regions in the world for investors. We are seeing real value emerging in GCC countries where the pace and variety of investment opportunities is re-awakening investors’ interest. In Egypt, increasing stability is attracting growing attention once again and Morocco is fast becoming a gateway to Africa. Saudi Arabia remains a central interest of our strategy, aligned with that of our clients. As anticipate the Saudi market’s opening up to foreign capital from mid-2015 as a game changer for the profile of the market and its underlying stocks, we believe that our discipline is abiding and that our fundamental process will generate robust outperformance. With more and more people looking at MENA and with interest in Shariah investment growing all the time, we expect this fund’s value to reach $100m in the short term.”