News

GCC asset managers ‘resilient’ to Covid-19

Asset managers in the GCC will be “somewhat resilient” to the impact of the Covid-19 pandemic and falling oil prices, according to a report from rating agency, Moody’s. Assets under management have fallen since the coronavirus outbreak in mid-February due to lower market valuations, but fund inflows have remained largely positive for the largest firms in the region. This is in contrast to many of their western counterparts. The report ascribes the resilience to both a track record of strong performance and an affluent client base that includes high net-worth individuals, family offices and sovereign wealth funds – all of which generally have higher risk tolerance and longer investment horizons. Nonetheless, Vanessa Roberts, vice president at Moody’s Investor Services, expects risk appetite to remain subdued and some diversification away from the region. In addition, low oil prices will also be a headwind for GCC managers especially if it leads to budgetary pressures for GCC governments who then adopt conservative fiscal policies which could erode the savings capacity of both individuals and institutions. © 2020 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

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

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.