SHUAA Capital launches first Fixed Income Fund
The Emirati investment bank SHUAA Capital recently announced the launch of The Arab Income Fund (TAIF), a new trust that will provide a liquid vehicle for investors wishing to benefit from the potential return of the Arab Fixed Income asset class, stated a press release.
TAIF is an open-ended fund incorporated in the Cayman Islands, with monthly subscription and redemption. SHUAA Capital will be investing its own money in the Fund and its objective is to provide high total returns through investing primarily in US Dollar-denominated debt securities issued by governments of the Arab world.
The fund gives exposure to most Arab countries through one single liquid investment, provides professional investment process and active management, takes advantage of major price distortions and provides effective diversification and low-to-negative correlation with other asset classes.
SHUAA Capital was established in 1979, originally as an investment company, promoting investment into the Arab World. It has since pursued its investment strategy by focusing on private equity investments and proprietary trading in Arab listed securities and later on the United Arab Emirates (UAE) and Gulf Cooperation Council (GCC) markets.
SHUAA Capital has participated in over 12 Eurobond offerings as lead, joint lead or syndicate members for a total issue size of three billion dollars and have been actively managing Arab debt portfolios since the inception of this market in 1994.
The UAE Central Bank in has licensed SHUAA Capital to offer a broad range of financial services and products in the UAE. Those services include the underwriting of securities and other corporate finance activities, investment advisory services, fund and portfolio management; and brokerage of local and international securities. — (menareport.com)
© 2002 Mena Report (www.menareport.com)