Standard & Poor's (S&P) Fund Services has assigned a AA fund management rating to the ING Invest Middle East and North Africa (Mena) fund.
Launched in December 2008, the fund is primarily aimed at international investors seeking exposure to Middle East and North African equities. It has an extremely strong track record compared to benchmark and peers, having outpaced its benchmark by nearly 15 per cent since inception.
"The fund managers' approach is pragmatic. Quantitative and qualitative assessment of companies is complemented by a high level of market awareness and an ability to rapidly reshape the portfolio when necessary. The AA fund management rating recognises the strong performance, the high standards associated with the Sicav status and the experience of the managers," said S&P Fund Services lead analyst, Roberto Demartini.
"This positive rating from S&P Fund Services comes as recognition of the Mena fund's consistently impressive performance and underlines the strength of the investment management team. The 'AA' rating reaffirms ING IM's position as a leading investment management firm and highlights the depth of our knowledge and understanding of regional markets," said Farah Foustok, CEO of ING IM Middle East.
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