Majid Al Futtaim Asset Management, the asset management arm of the Majid Al Futtaim Group, has announced recently the launch of its first MENA equity product - the Elite MENA Equity Fund. Investors can now invest alongside the family office of Majid Al Futtaim and gain access to the services of the portfolio management team responsible for the MENA equity investments. The Majid Al Futtaim family office has seeded the Fund with $150 million (AED550 million), making it one of the largest MENA equity funds available to investors. Focused on the Middle East and North Africa (MENA) region, the “long-only” open-ended fund, domiciled in Luxembourg, aims to achieve long term asset growth and capital preservation through a tried and tested ‘Risk-Managed Growth' approach to MENA investments. This approach has enjoyed strong relative performance over the past seven years. Commenting on the launch, Iyad Malas, chief executive of Majid Al Futtaim Asset Management, said “investors deserve to have the best home for their money in both turbulent and stable investment environments. By opening the doors to the services of the portfolio management team responsible for Majid Al Futtaim's family office, we offer investors a tried and tested place to invest. The Elite MENA Equity Fund offers investors an opportunity to invest with a team whose performance speaks for itself.” “Increasing market liberalization, attractive valuations, and low currency risk offer good opportunities for investors, especially those who currently have limited exposure to the MENA region.” “Majid Al Futtaim Asset Management takes a “risk-managed growth” approach to regional investment opportunities, including a top-down understanding of MENA markets complemented by a bottom-up assessment of specific opportunities for investment,” he added. The key objectives of “risk-managed growth” are the preservation of wealth alongside the achievement of long-term growth. This approach rests on actively managing portfolios by focusing on economic and fundamental factors combined with rigorous due diligence and risk management processes.
