Monday, 23rd November 2009

 

14 May 2008 - Press Briefing

Pictet eyes frontier markets with MENA fund

Pictet Funds is the latest to be entering the frontier markets, with the Europe-wide launch of a Middle East and North Africa fund at the end of the month, according to a report in the Financial Times.

The PFT MENA fund will be managed out of London by Oliver Bell and Emad Mostaque, respectively head of the company's emerging markets specialist equities team and investment manager within it. This team is part of Pictet's institutional division Pictet Asset Management.

The portfolio will comprise companies from the Gulf Cooperation Council countries and other selected Middle East and North African countries such as Jordan, Egypt, Morocco and Tunisia. It will be managed against the MSCI Arabian Markets ex-Saudi Arabia index - but the team will actively consider Saudi Arabia as an off-benchmark allocation of up 10% through select local funds.

The fund will be available to institutional, private banking and retail investors in the UK as well as other European countries, from May 29.

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