Kuwait Financial Centre (Markaz), a leading investment banking and asset management company, will act as the investment advisor to the SFM Group's WIOF Middle East Performance Fund.
The fund is targeting both institutional and retail investors in Europe, Asia and Middle East, and will invest in Middle East and North Africa (Mena) to achieve the best possible return.
The fund is registered with the Capital Market Authorities in Luxembourg. The fund is also UCITS III-compliant signifying high levels of compliance, guidelines and transparency. The subscription and redemption are daily.
Manaf Alhajeri, General Manager, Markaz, said: "We thank the SFM Group for entrusting Markaz with the management of the Middle East Performance Fund. This trust lies on an excellent track-record spanning many years and the capacity to propose custom-made investment solutions to institutional investors. The Middle East possesses some enticing investment opportunities, and despite the financial crisis is forecasted to be the second-fastest economy after emerging Asia owing to large financial surpluses, massive oil reserves and liquidity.
"As per agency projections, the Middle East is expected to grow by 2.5 per cent during 2009, while the world economy is expected to contract by 1.3 per cent. In light of economic recovery, the region is expected to bounce back much more swiftly than developed world."
Derek Chambers, Chairman and CEO, SFM Group, said: "The fund will invest in Mena as we see investment opportunities over the long term."
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