HSBC to launch MENA SICAV fund

HSBC GIF MENA will invest in companies in the region with market capitalisations exceeding $100m. The country focus will include United Arab Emirates, Oman, Kuwait, Bahrain, Egypt, Jordan, Qatar, Lebanon, Morocco and Tunisia, while the fund may hold up to 10pc of its portfolio in Saudi Arabia. Nannini and his team will take a bottom up, valuation driven approach, choosing stocks that display strong and sustainable business models, good corporate governance and attractive valuations. The fund will typically hold 50 to 60 stocks. He said: "The MENA region offers stock market exposure t...