The portfolio manager for Majid Al Futtaim Asset Management, Habib Oueijan, this week encouraged international investors to take a more long-term perspective toward investment opportunities in the Middle East and North Africa (MENA) region.
Speaking at the GAIM Middle East Alternative Investment 2009 conference, Oueijan said that a long-term view, rather than opportunistic, will better benefit investors looking to the MENA markets. This was exemplified by the investment approach taken by Majid Al Futtaim Asset Management.
“On the upside, Majid Al Futtaim Asset Management sees the region and markets such as Dubai to be the beneficiaries of the global rebound due the investments that we’ve seen in infrastructure, which is vital for long-term growth,” said Oueijan, as part of a panel discussion.
In his discussion with conference moderator Adnan Hassan, formerly of the World Bank Group, and Phillip Edwards, a US-based family office strategist and advisor, Oueijan also touched upon the ‘comfort zone’ of current oil prices and the strategy of Gulf states to continue infrastructure investment as population growth increases across the region, and nationals migrate to the private sector.
Majid Al Futtaim Asset Management, the investment arm of the Majid Al Futtaim Group, is approaching its first anniversary as an incorporated investment advisory. The company’s October performance report for its Elite MENA Equity Fund is now available online.
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