Mashreq Asset Management has launched the Arab Tigers Fund, giving European investors access to the Middle East & North Africa (Mena) region.
Domiciled in Ireland, the fund is listed on the Irish stock exchange and has been authorised as a Ucits vehicle by the Irish Financial Regulator.
United Arab Emirates-based Mashreqbank said the move allows investors to access the dynamic and growing Mena equity markets through an experienced and on-the-ground regional institution.
As a collective investment vehicle it offers access to securities of blue-chip companies listed on the stock exchanges of the region. The fund is denominated in US dollars and seeks to achieve long-term capital appreciation.
Imran Ahmed, managing director at Mashreq Asset Management, said: “The Mena economies are the fastest-growing economies in the world today and it is essential that as investment managers we open up our funds to foreign investment.”
The Irish-listed Mashreq Tigers fund will build upon the track record of the existing Makaseb Arab Tigers fund (MATF), the flagship fund of Mashreq Asset Management.
Since its inception in November 2005, the AA-rated MATF has outperformed its benchmark MSCI Arabian index by 38%, and is 8% higher than the benchmark year-to-date.
Ahmed said: “Our funds operate on a highly disciplined investment process that adopts a multi-factoral approach, including fundamental research and company visits.”
Minimum investment is $1,000 and subscriptions and redemptions take place daily.
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