Shuaa Capital, the biggest independent fund manager in the Middle East, based in Dubai with more than $3bn of assets under management, manages the Arab Gateway fund which is available to UK investors.The outlook for the region is still outstanding, with markets such as Kuwait, Oman and Egypt still substantially undervalued. The long-term outlook for oil prices remains fairly steady and a big construction boom is fuelling long-term economic benefits in the Middle East. The outlook for this fund should be excellent. Since Shuaa Capital took over its management in February 2001, the fund has risen by over 270 per cent against a rise in the MSCI Emerging Markets index of 91 per cent. At the moment, 37 per cent of the fund is invested in Kuwaiti shares, 21 per cent in Egypt, 9 per cent in Lebanon, 8 per cent in Qatar and 5 per cent in Oman, with cash and others accounting for the balance. The sectors that Shuaa Capital likes particularly are banking and finance (37 per cent), telecoms (18 per cent), services (around 9 per cent), manufacturing (8 per cent) and construction and real estate (7 per cent). These are very different holdings from the Arab/ GCC index itself. Minimum investment in the fund is currently $100,000 but negotiations are going forward with some of the networks so it may be possible for smaller investors to take advantage of this fund, too. It should certainly be part of big portfolios.
More horror stories regarding the terrible taste in music that has long infected many in the financial services industry – and this time it’s serious. The Diary believes it is its duty to reveal the trio, who are all die-hard fans of German industrial thrash metal band Rammstein (pictured above). They are Scottish Life consultant […]
Abbey plans to open an additional 100 branches and says brokers will see service improvements from the additional resources.
Norwich Union has confirmed that it will launch its Norwich UK special situations fund on May 22nd.The 200m fund will be jointly managed by Richard Buxton, manager of Schroder UK alpha plus fund, and Andy Brough, manager of Schroder UK mid 250 fund.The fund will be available from IFAs and fund supermarkets and will hold […]
Almost a quarter of homeowners in the UK are leaving their families’ futures uncertain by failing to cover their mortgage debts in the event of their death, according to Friends Provident. The figures suggest that homeowners are putting the contents of their homes before the house itself and, despite an estimated 2tn protection gap, 92 […]
By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]
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