HSBC unveils new MENA fund

Part of the firm’s Luxembourg-domiciled Global Investment Funds SICAV, the new vehicle will be managed by Andrea Nannini and the Halbis team. Benchmarked against the MSCI Arabian ex-Saudi Arabia total return index, the fund will invest in companies with a market capitalisation of more than $100m. The vehicle will typically hold 50 to 60 stocks, with no more than 10% from Saudi Arabia. The Halbis team is experienced in MENA investments, holding a 45% exposure to the region in its HSBC New Frontiers fund. “These markets are expected to benefit from continued rapid economic growth and in...