Neuberger has launched a UCITS fund investing in Middle Eastern and North African equities.
Neuberger MENA Equity, is managed by the firm’s Dubai-based MENA equities team, holds between 25 and 40 stocks at any one time, which the team deem to offer ‘quality at a reasonable price’. The stocks are distilled from an initial basket of 1,240 stocks.
The launch follows Neuberger’s view that the MENA region is becoming increasingly attractive, as it diversifies away from oil revenues and hydrocarbons, and into sectors such as tourism, technology, healthcare and financial services.
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Matt Malloy, head of EMEA and head of global institutional client group at Neuberger, said: “The launch of the Neuberger MENA Equity fund is a natural expression of our deepening commitment to this region and its investors.
“We have made significant investments in our local capabilities, assembling an experienced on-the-ground investment team and strengthening our client coverage across the GCC [Gulf Cooperation Council].
Walid Mourad, head of MENA equities at Neuberger, added that the MENA region “sits at an inflection point”.
“Transformational reform programmes, expanding capital markets, and a deepening IPO pipeline are creating investment opportunities that simply did not exist a decade ago,” he said.
“Our on-the-ground investment team has spent years building relationships in the region and developing a detailed understanding of local businesses, corporate culture, and market dynamics.
“Backed by Neuberger’s best-in-class global platform, our team is well-positioned to identify high-quality companies trading at attractive valuations and deliver strong risk-adjusted returns for clients over a full market cycle.”
