Bringing you live news and features since 2006 

First Saudi firm to manage a UCITS fund announced

RELATED TOPICS​

SEDCO Capital is the first Saudi based asset management firm to be awarded a mandate to manage MENA and Saudi equities under a UCITS platform in a new partnership with Milltrust International.

The Milltrust SEDCO MENA Fund aims to achieve long term returns for international institutional investors by investing primarily in companies in the MENA region through a portfolio of equity securities under the UCITS IV framework. The fund offers daily liquidity.
 
Hasan Al-Jabri, Chief Executive Officer of SEDCO Capital, says: "We are delighted to announce the launch of the Milltrust SEDCO MENA Fund in partnership with Milltrust International. We are pleased that our successful track record in managing MENA equity portfolios was able to attract a key partner such as Milltrust and we look forward to deepening our cooperation with them in the future.”
 
In line with the Kingdom’s 2030 vision to diversify the economy, improve the business environment, as well as creating opportunities and increasing foreign direct investment from 3.8 per cent to 5.7 per cent, the CMA has agreed to change some of the rules for foreign investment and to open the Kingdom’s capital market under the economic diversification plan.
 
These announcements have paved the way to an eventual inclusion of Saudi Arabia into the important MSCI Emerging Market Index and the emerging-market universe.
 
“The launch of the fund comes at an exciting time as the Kingdom is opening its doors to welcome investors from all around the world to diversify the Saudi economy and broaden investor base”, Al-Jabri adds.
 
The fund will focus on investing in MENA and Saudi equities, and will be actively managed by the specialist MENA Liquid Equity team at SEDCO Capital. The team will apply the firm’s research-driven philosophy and process which has provided a strong track record over the medium to long term through all market cycles.
 
Yazan M. Abdeen, Lead Fund Manager & Head of MENA Capital Markets at SEDCO Capital, says: “Saudi Arabia together with all other MENA markets provide a perfect optimiser for an emerging market allocation as they all provide favourable demographics, growth potential in a protected currency environment. Not many other emerging economies can claim such positioning. At SEDCO Capital, we have the fundamental investing philosophy, combined with a stock-selection based investment process, a dynamic team and a solid track-record that stands in good stead to benefit from the reforming MENA region.”  

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by