ADS Securities Teams With Duemme SGR To Offer Multi-Asset Middle East Fund

Tuesday, 20/10/2015 | 11:25 GMT by Jeff Patterson
  • ADS Securities and Duemme will target investment opportunities in the Middle East across both equities and fixed income assets.
ADS Securities Teams With Duemme SGR To Offer Multi-Asset Middle East Fund
Photo: Bloomberg

ADS Securities has partnered with Duemme SGR SpA – an asset management company owned by the Mediobanca and Mediolanum private banking group Banca Esperia – in a bid to foster a jointly managed Equities and fixed income fund offering.

Abu Dhabi-based ADS Securities and Duemme will target investment opportunities in the Middle East across both equities and fixed income assets. The two groups will pioneer a new fund that invests in GCC (Gulf Cooperation Council) markets, with a specific emphasis on the United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.

More specifically, Duemme SGR will help manage the overall fund, which is scheduled to be available over the next month – meanwhile, ADS Securities will be providing advisory services. The joint fund will invest in equities and bonds of issuers that are domiciled in a respective member country of the GCC along with neighboring countries or companies whose principal business activities are conducted in or with GCC nations.

In addition, the fund has a contingency to invest up to 50% (a minimum threshold of 30%) in bonds, with up to 70 % (minimum 30%) across equities, along with a benchmark distribution of 60% S&P GCC Composite and 40% Barclays GCC credit + HY. The fund also boasts a strong focus on risk control techniques, with a Volatility target over a range of 5-8%.

According to Filippo Di Naro, CEO of Duemme SGR in a recent statement on the partnership, “We are extremely pleased to have found the right partner in ADS Securities to give our clients the chance to invest in markets and economies that have yet to be fully explored by global investors and that are currently undergoing significant expansion. The Duemme GCC Markets fund will allow us to optimize investment diversification, not only in terms of geography, but also in terms of asset class, currency and financial instrument.”

“The GCC has a very high per capita income and non-oil revenues now drive growth in the region. We always advise investors to look at the performance of GCC equities compared with other emerging markets, and we are confident they will be pleased by the potential which exists,” added Philippe Ghanem, CEO and Vice-Chairman of ADS Securities in an accompanying statement on the opportunity.

Last month, ADS Securities expanded its business into Asia with the launch of a retail offering in Hong Kong. The announcement followed on the heels of an executive appointment by of Francis Lee as the Managing Director of the Hong Kong office.

ADS Securities has partnered with Duemme SGR SpA – an asset management company owned by the Mediobanca and Mediolanum private banking group Banca Esperia – in a bid to foster a jointly managed Equities and fixed income fund offering.

Abu Dhabi-based ADS Securities and Duemme will target investment opportunities in the Middle East across both equities and fixed income assets. The two groups will pioneer a new fund that invests in GCC (Gulf Cooperation Council) markets, with a specific emphasis on the United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.

More specifically, Duemme SGR will help manage the overall fund, which is scheduled to be available over the next month – meanwhile, ADS Securities will be providing advisory services. The joint fund will invest in equities and bonds of issuers that are domiciled in a respective member country of the GCC along with neighboring countries or companies whose principal business activities are conducted in or with GCC nations.

In addition, the fund has a contingency to invest up to 50% (a minimum threshold of 30%) in bonds, with up to 70 % (minimum 30%) across equities, along with a benchmark distribution of 60% S&P GCC Composite and 40% Barclays GCC credit + HY. The fund also boasts a strong focus on risk control techniques, with a Volatility target over a range of 5-8%.

According to Filippo Di Naro, CEO of Duemme SGR in a recent statement on the partnership, “We are extremely pleased to have found the right partner in ADS Securities to give our clients the chance to invest in markets and economies that have yet to be fully explored by global investors and that are currently undergoing significant expansion. The Duemme GCC Markets fund will allow us to optimize investment diversification, not only in terms of geography, but also in terms of asset class, currency and financial instrument.”

“The GCC has a very high per capita income and non-oil revenues now drive growth in the region. We always advise investors to look at the performance of GCC equities compared with other emerging markets, and we are confident they will be pleased by the potential which exists,” added Philippe Ghanem, CEO and Vice-Chairman of ADS Securities in an accompanying statement on the opportunity.

Last month, ADS Securities expanded its business into Asia with the launch of a retail offering in Hong Kong. The announcement followed on the heels of an executive appointment by of Francis Lee as the Managing Director of the Hong Kong office.

About the Author: Jeff Patterson
Jeff Patterson
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About the Author: Jeff Patterson
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