Credit Suisse has launched a Ucits III Middle East and North Africa (Mena) region fund in its Luxembourg Sicav.
The fund, initially being marketed in continental Europe and the Mena region, is benchmarked against the MSCI Arabia ex-Saudi Arabia Index.
It has daily liquidity and operates a blended style that takes in value and growth stocks, with the number of holdings likely to range between 40 and 60.
The fund is managed from Dubai by an investment team led by Farid Samji, who has spent most of his 11-year asset management career in the region.
Around $40m has been raised for the fund, which is open to retail and institutional investors, at launch.
Samji said: “The Middle East offers investors a broad range of investment opportunities with a region endowed with vast natural resources and a favourable demographic profile.
"On-going structural reforms, regulatory and economic liberalisation are providing a strong impetus for capital growth. Our long standing presence on the ground leaves us well placed to make investment decisions.”
The institutional class of the fund has a minimum investment of US$3m and an
annual management fee of 0.9%. The retail class is open to all
investors with no minimum investment and an annual management fee of
1.92%.
