Makaseb Arab Tigers fund to tap regional growth

05-Dec-2005

The Makaseb Arab Tigers Fund (MATF) aims to achieve long term capital appreciation by investing in the GCC, Egypt, Jordan, Morocco, Lebanon and Tunisia stock markets. 
 
Available to both expatriates and Nationals, MATF enables investors to take advantage of the Arab Tiger nations' strong fundamentals which are out-performing world averages. 
 
"Once it was the Asian Tigers, now it is the turn of the Arab Tigers" said Nabeel Waheed, Chairman of MFC. "Supported by high oil prices, Arab markets are on a healthy growth curve and the strong corporate earnings expected for 2005 will stimulate further growth." 
 
"By targeting MENA blue chip companies we see MATF as a core component of a balanced investment portfolio aimed at achieving long-term capital growth," said Waheed.

The MATF fund will be listed on the Bahrain Stock Exchange and has been approved by the Bahrain Monetary Agency (BMA) and UAE Central Bank. It is an open-ended fund denominated in US dollars with weekly subscriptions and redemptions. The minimum subscription for MATF is US$10,000 and with increments of $1,000.
 
MATF is the fourth mutual fund in MFC's series of products, launched to offer investors investment opportunities focused on a region with one of the highest rates of growth in the world. MFC mutual funds are structured and regulated according to international standards for the investment management industry and are subject to the BMA's Regulation Governing Collective Investment Schemes, June 2003. 
 
Mashreq has been appointed as MATF's Investment Manager while Gulf Investment Corporation (GIC), one of the largest financial institutions in the Gulf and equally owned by the governments of the six GCC member states, have been appointed as custodians and administrators. In order to ensure transparency and adherence to the most stringent international standards, MFC and MATF have appointed the international accountancy firm Deloitte as its auditors and Ernst & Young as its Registrar and Transfer Agents.

Nabeel cautioned that investors needed to appreciate that, as with any investment in the stock market, the value of the fund can go down as well as up. "It is important that customers seek advice from their investment advisors on maintaining a diversified portfolio in different types of assets and sectors" he concluded.

For further information please contact:
Jack Pearce or Huda Al Baseer
Dubai (+9714) 343 0888