Mashreq's Makaseb Fund offers daily Net Asset Value

Makaseb Emirates Equity Fund is the first UAE Fund to offer daily dealing to its investors.

"Global stock markets have become extremely volatile over the last few weeks and the effects of the sub-prime issue and global credit crunch have affected investor sentiment across the region. By offering daily dealing we will allow greater convenience and flexibility to investors in managing their investments," stated Imran Ahmed Managing Director, Mashreq Asset Management.

At present no other UAE fund provides investors with the option of daily dealing. By switching to daily dealing Mashreq will up the stakes in UAE fund management which will encourage other investment managers to follow suit bringing international standards to the regional industry.

"It is vital that investors today are provided with utmost flexibility in managing their investments. Markets are extremely volatile and daily dealing will help investors to better measure their funds performance vis-a- vis the markets over a period of time,"

concluded Ahmed.

MEEF is an open ended investment fund denominated in US dollars. The fund aims to achieve long term capital appreciation through investment primarily in shares listed on the UAE stock exchange. The MEEF portfolio is constructed after careful evaluation of various factors including the liquidity of the stock, company fundamentals, profitability, and overall portfolio risk considerations.

The fund requires a minimum investment of $10,000 and subscriptions and redemptions take place on each business day.