News

Mashreq Capital downgraded by Moody’s

Moodys_websiteDubai-based investment manager Mashreq Capital (DIFC) has paid the price for its high turnover of chief executives – four in less than 10 months - after it was downgraded by rating agency Moody’s. Mashreq’s investment manager quality assessment went from MQ2 to MQ3, reflecting a weakening in management quality, stated the rating agency. Following the departure of the first CEO in 2016, Mashreq installed an interim CEO followed by an appointment from outside the company before then settling on its current chief executive Robert Hahm, a longstanding member of the management team. “The high CEO turnover has had a direct impact on the company's ability to execute on its strategic business initiatives,” stated Moody’s. The rating agency also cited a decline in assets under management and the continued weak investment performance of its equity products as contributory factors in the downgrade. However, the positive performance of Mashreq’s fixed income funds, which make up the bulk of its assets under management, did offset some of the aforementioned negatives, stated Moody’s. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

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

Nov 23, 2017

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.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.