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Dubai: Abu Dhabi Commercial Bank (ADCB) on Saturday announced the launch of the ADCB MSCI Arabian Markets Index Fund, designed to track the performance of a diversified basket of Arabian market stocks.
"As the regional GCC equity and capital markets continue to grow, so too has the demand for more diverse and innovative solutions to meet the growing sophistication of investors," said Ahmad Barakat, head of wealth management group at ADCB.
"With this in mind, ADCB is leading the way on a wide range of funds initiatives in the UAE and the broader region.
A particular success for the bank is its mutual funds range whose increased appeal can be attributed to easy access to any market."
"Today, as individuals become more affluent, professionally run products are central to preserving wealth and to growing it over time. Mutual funds offer that option while being cost effective, transparent, and regulated by renowned agencies," Barakat said.
Entry point
"The ADCB MSCI Arabian Markets Index fund provides an ideal entry point for investors seeking efficient, low cost, passive exposure to one of the most dynamic investment destinations in the world," said Mark Friedenthal, fund manager, ADCB.
"With an increasing level of sophistication and participation in middle eastern financial markets, active managers are finding it more and more difficult to generate outperformance as these markets become more efficient. This is where the benefits of passive management become obvious as a low cost source of beta or vanilla market exposure."
The fund will track the MSCI Arabian Markets Index, a multi-country equity benchmark covering the UAE, Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, Egypt, Morocco and Jordan.
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