Baring Asset Management's new Middle East and North Africa (Mena) fund has officially launched after raising $8m in its two week initial offer period.
The Dublin-domiciled Ucits III fund, which is managed by head of Europe, Middle East and Africa equities Ghadir Abu Leil-Cooper and her team, opened on 15 March before officially launching last week. Benchmarked against the MSCI Arabian ex Saudi Arabia index, the fund offers exposure to Egypt (29%), UAE (20%), Qatar (16%), Turkey (12%), Saudi Arabia (10%), Kuwait (7%), Jordan (4%) and Oman (2%). It is overweight Turkey and Egypt with a large underweight in Kuwait and will focus on sectors Leil-Cooper says stand to grow considerably, such as banking, consumption, infrastructure, resour...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
