Makaseb creates greater investor opportunity by offering daily Net Asset Value

19-Aug-2008

- Makaseb Arab Tigers Fund opens up to investors -

Dubai,United Arab Emirates,19th August 2008: In an effort to adopt global best practice in the UAE, Mashreq is now offering Makaseb Arab Tigers Fund (MATF) investors greater flexibility by offering Net Asset Value at the end of each business day. MATF is Makaseb’s second fund to offer daily dealing, a step that clearly demonstrates Makaseb’s focus on transparency and commitment to providing greater convenience to investors.

 “Dubai is fast becoming a regional hub in a global village and it is essential that as investment managers we introduce and adopt global best practice here in the UAE,” commented Imran Ahmed, Managing Director, Mashreq Asset Management. “MATF is our second fund to offer daily dealing and we believe this will help investors better time their entry points for their long term investments in the MENA region. The MENA economies are the fastest growing economies in the world today, and the underlying stocks represent solid value for fundamentally driven investors.”

Standard and Poor’s, one of the world's foremost providers of independent credit and fund ratings assigned the MATF fund an ‘AA’ high quality rating. Their assessment report highlighted the Makaseb funds’ “well defined investment approach” and gave a vote of confidence to the group with the mention of its “clear commitment to transparency and best practices.”

“At Makaseb we work to consistently exploit opportunities in the market in order to offer world-class banking services that exceed our customers' needs and expectations. Our funds operate on a highly disciplined investment process that adopts a multi-factoral approach, including fundamental research and company visits. We intend to protect our competitive position in the market and to continue growing along with the economy, focusing on the superior and consistent performance of our funds. This is reflected in the performance of our Makaseb funds, including the MATF” concluded Ahmed. 

MATF is an open ended investment fund denominated in US dollars. The fund seeks to achieve long-term capital appreciation by investing in the securities of blue chip companies listed on the stock exchanges of the Middle East and North Africa (MENA) region.

The MATF portfolio is constructed after careful evaluation of various factors including the liquidity of the stock, company fundamentals, profitability, and overall portfolio risk considerations. The fund requires a minimum investment of $10,000 and subscriptions and redemptions take place on each business day.

About Makaseb Arab Tigers Fund

Mashreq is the investment manager of MATF while Gulf Investment Corporation, Bahrain is its custodian and administrator. International accountancy firm Deloitte is the auditor and Keypoint Consulting WLL is its registrar and transfer agents.

For further information, please contact:                                  

Moomal Punjabi
Asset Management
Treasury & Capital Markets
Mashreqbank psc
Tel: 04 207 8396
www.makaseb.com
Email: contact@makaseb.com

 For media information , please contact:

Iman Issa
Account Executive 
Gulf Hill & Knowlton
Tel: 04 334 4930
Email: Iman.issa@hillandknowlton.com

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