Duet launches Ucits version of MENA equity fund

DubaiThe Dubai branch of emerging markets asset manager Duet Group has launched a Ucits version of its three-year-old Mena Horizon fund, which invests in equities in the Middle East and North Africa. The new fund will appear on a Luxembourg-domiciled Ucits umbrella set up in 2009 and operated by wealth management firm Palaedino. The Ucits fund will mirror the investment strategy of the Mena Horizon fund, which is also domiciled in Luxembourg and structured as a specialised investment fund (SIF), aimed at institutions and professional investors. "MENA markets now represent less than 2% of most emerging market indices," says Ali Al Nasser, fund manager at Duet and co-head of the fund's investment team. "We expect that to grow substantially in the coming few years, with improved accessibility, an increase in primary market activity and continued improvement in the corporate governance framework being key drivers." Launched in May 2011, the Mena Horizon fund has delivered an average return of 20% a year. The Ucits version will be the seventh sub-fund on the Palaedino platform. Established in 2002, Duet Group manages $5.5 billion of assets, of which 70% come from institutional investors. ©2015 funds global mena

Executive Interviews

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

We’ll launch our first equity fund next year

Dec 08, 2016

Not many banks plant olive trees, but the Bank of Palestine has a social mission. It also has ambitious expansion plans, says chairman Hashim Shawa. He talks to George Mitton.



Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.

ROUNDTABLE: Growing pains

Mar 08, 2017

Our panel in Qatar spoke about frustration with regulators, a shortage of listed companies and plans for a new financial city in Doha. Chaired by George Mitton.