Sunday 19 November 2017
 
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Al Mal Capital signs partnership with Azimut to launch fund

DUBAI, 13 days ago

Al Mal Capital (AMC), a subsidiary of Dubai Investments and a diversified, multi-line investment institution, has signed a partnership agreement with Azimut Group to jointly launch a Middle Eastern equity fund. 
 
The fund will be established by AZ Fund Management, Azimut Luxembourg fund management company within its UCITS umbrella fund. 
 
The fund will integrate the distinctive investment advisory capabilities of AMC with the group’s global portfolio management team, comprising more than 100 professionals across its international network. The fund will be branded AZ Fund Al Mal Mena Equity to reflect the strategic partnership between the two companies. Azimut will add the fund to its global franchise, including third parties’ distribution channels, a statement said.
 
The strategic cooperation signed by the two companies also includes joint marketing initiatives to cater to the demand from the respective commercial franchises; access to Azimut’s existing range of investment capabilities for regional investors through AMC’s wealth management platform, it said.
 
Naser Nabulsi, vice chairman and CEO of Al Mal Capital, said: “The partnership with Azimut is a major milestone for Al Mal Asset Management growth strategy. With more than $50 billion in assets under management, Azimut is one of the largest and fastest growing asset managers in Europe and we are very pleased to have them as a partner. Thanks to Azimut UCITS umbrella platform and their global distribution footprint, Al Mal’s highly successful Mena equity strategy will now be accessible to institutional and private investors around the world.”
 
Sergio Albarelli, CEO of Azimut Holding, comments: "The strategic partnership with Al Mal Capital is a key step forward in our strategy across the MENA region which also aims to leverage our presence in the Dubai International Financial Center (DIFC) through AZ New Horizon, our local integrated financial advisory platform. The new Fund will complement our regional expertise centered on AZ Fund Global Sukuk, which is today one of the largest Shariah compliant UCITS funds investing in the asset class. 
 
“This partnership fosters Azimut’s commitment in strengthening its global investment management platform, including strategic product partnerships for specialized regional strategies, as well as the Group’s continuous investment towards active management to generate value for clients versus passively managed portfolio."
 
AMC is one of the largest independent asset management companies in the United Arab Emirates and since 2005 manages Middle East and UAE focused stocks portfolios with AUM of $250 million currently, through onshore funds and mandates for local investors. – TradeArabia News Service 
 



Tags: Dubai Investments | Al Mal Capital |

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