Ratings agency Moody's has moved Dubai-based Mashreq Capital up one notch in its assessment of investment manager quality.
Abdul Kadir Hussain, chief executive of Mashreq Capital, says the promotion reflects the firm's capabilities and track record in managing MENA equities and fixed income in both conventional and Islamic sectors.
Mashreq Capital is now categorised as MQ2 by Moody's in a scale that runs from MQ1 (the best score) to MQ5.
Hussain spoke to Funds Global MENA last year for an interview published in September 2014. He explained then that the company managed about $1 billion in assets, nearly all of it on behalf of investors in the Gulf countries. The firm's institutional clients, which account for 90% of that sum, were largely regional pension funds, he said.
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