Mashreq converts conventional fund and Launches Sharia’h Compliant MENA Equity Fund

08-Apr-2014

Al Islami Arab Tigers Fund will allow customers to invest in a diversified portfolio of dividend stocks in the MENA region


Mashreq Al Islami, the Islamic banking division of Mashreq, a leading financial institution in the UAE, today continued to strengthen its Islamic Products arm with the launch of its flagship Islamic Equity Fund, Al Islami Arab Tigers Fund. The Sharia Compliant fund will allow customers to invest in a diversified portfolio of growth and dividend stocks in the MENA region.

The Al Islami Arab Tigers Fund will invest in listed equities of companies that meet Shariah law values. Investing in the MENA equity markets offer significant opportunities for investors due to the strength of the MENA economic market and potential for growth of the region.

Mashreq Arab Tigers fund has been operating as a conventional MENA Equity fund domiciled in Dublin. Since its launch in August 2008, the fund has achieved significant performance. It has returned 87.71% against the benchmark (S&P Pan Arab Index) return of -19.12% since then as at end of February 2014. Its 2013 return was 23.84% vs. benchmark return of 21.90%.

Speaking on the launch of Al Islami Arab Tigers Fund Abdul Kadir Hussain, CEO Mashreq Capital said: "‘Mashreq is confident about the exceptional growth and potential of the MENA region and we are geared up towards capitalizing on the economic growth. As one of the older asset managers in the region, we have a strong track record in managing MENA equities and also managing Sharia Compliant investments which we now extend to manage an Islamic MENA Equity Fund."

Reda Gomma, Mashreq Fund Manager said: “Our investment approach is bottom – up, focusing on the companies with solid and sustainable profitability. The discipline in our investment strategy has helped us to generate huge outperformance over the last five years. Given the spending spree by MENA governments to upgrade their infrastructure, corporate earnings are poised to grow substantially over the medium to long term. Al Islami Arab Tigers is a well regulated fund and is a good opportunity for investors to benefit from growing economies in the Middle East.”

For further information on Al Islami Arab Tigers Fund, please visit your nearest Mashreq branch.

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