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Screenshot of a breaking news alert e-mail from Q2 2017
Abu Dhabi-based financial services company ADS Securities and Duemme SGR SpA, an asset management company owned by the Mediobanca and Mediolanum private banking group Banca Esperia, have announced a partnership that aims to offer global investors exciting new investment opportunities in the Middle East, including through equities and fixed income.
The result of this collaboration is Duemme GCC Markets, a balanced fund investing in Gulf Cooperation Council (GCC) markets, specifically the UAE, Saudi Arabia and Qatar, as well as Bahrain, Kuwait and Oman.
Duemme SGR will manage the fund, set to start operating in the coming weeks, with advisory services to be provided by ADS Securities. The fund will mainly invest in equities and bonds of issuers domiciled in a member country of the GCC and neighboring countries or in companies that carry out their principal business activities in the GCC and neighboring countries.
It may invest up to 50% (minimum 30 %) in bond, up to 70 % (minimum 30 %) in equity, and will have as a benchmark of 60% S&P GCC Composite and 40% Barclays GCC credit + HY. The fund’s investment strategy will be flexible and focused on diversification based on medium and long-term prospects, taking an active management approach to finding the best investment opportunities within GCC markets while implementing risk control techniques, with a volatility target over a range of 5-8%.
ADS Securities, which has a significant presence across the Middle East, will provide Duemme SGR with research, selection and advisory services for investments.
“We are extremely pleased to have found the right partner in ADS Securities to give our clients the chance to invest in markets and economies that have yet to be fully explored by global investors and that are currently undergoing significant expansion,” noted Filippo Di Naro, CEO of Duemme SGR. “The Duemme GCC Markets fund will allow us to optimize investment diversification, not only in terms of geography, but also in terms of asset class, currency and financial instrument .”
Philippe Ghanem, CEO and Vice-Chairman of ADS Securities, sees great opportunities in the GCC for investors:
“The GCC has a very high per capita income and non-oil revenues now drive growth in the region. We always advise investors to look at the performance of GCC equities compared with other emerging markets, and we are confident they will be pleased by the potential which exists.”
The Duemme GCC Markets fund will be presented to a group of potential investors at two special invitation-only events – one at Banca Esperia offices this evening in Milan and one on Thursday 22 October at Villa Aurelia in Rome. The speakers will be Andrea Cingoli, CEO of Banca Esperia, and Filippo Di Naro, CEO of Duemme SGR, along with – for ADS Securities – Matteo Alessandro Legler, Chief Operating Officer, Ashish Marwah, Director of Asset Management, and Ryan Lemand, Senior Director of Managed Solutions & Business Development.