Gulf International Bank (UK) Limited, a subsidiary of Gulf International Bank (GIB), launched a new Emerging Markets Opportunities Fund this month, with assets of more than $100 million. The Fund is a multi-strategy, absolute return product, investing across emerging markets. The strategy focuses on fixed income credit while also providing equity and currency enhancement. The Fund takes both long and short positions and aims to generate consistent returns regardless of underlying market conditions. Returns are generated through identifying undervalued opportunities in emerging markets. “The Emerging Markets Opportunities Fund responds to an increased investor focus on the world's developing economies. This fund allows investors to capitalise on the long term structural changes taking place to the global hierarchy,” said Dr. Yahya A. Alyahya, GIB's chief executive officer. The Fund will be denominated in US dollars but may take positions in emerging market currencies. In response to the liquidity demands of investors, the Fund will provide monthly liquidity with no initial lock up period. GIBUK currently manages around $15 billion in total client assets and has a long and successful track record of investing in emerging markets. The team managing the fund has more than 50 years combined experience. The Fund's prime broker is Credit Suisse and the administrator is Citco. Gulf International Bank is a leading merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council (GCC) states. The Bank is owned by the six GCC governments, with the Public Investment Fund of Saudi Arabia holding a majority stake (97.2 per cent). In addition to its London-based subsidiary, GIBUK, the Bank has branches in London, New York, Riyadh and Jeddah, in addition to representative offices in Beirut and Abu Dhabi.
