EFG-Hermes expands its Saudi offering

Actively managed by EFG-Hermes' Riyadh-based Asset Management Team, the Saudi Arabia Equity Fund aims to replicate the success and track record of EFG-Hermes' other regional funds. This Fund has been launched with the authority of the Saudi Arabia Capital Markets Authority, and has an anticipated launch date of March 2008.

Hassan Heikal, Co-Chairman and CEO of EFG-Hermes:

"Saudi Arabia is the largest market in the Middle East North Africa region in terms of market capitalization, and the second most liquid emerging market worldwide. In our view, there is significant growth potential in Saudi Arabia driven by a boom in infrastructure spending and a steady rise in consumer spending. We decided to launch the EFG-Hermes Saudi Arabia Equity Fund in order to allow investors—regional and international—the opportunity to access this market and participate in this growth story".

"Our regional expertise and insight is continuously demonstrated by our track record within the MENA region. We aim to replicate the success of our other regional funds by using our expertise, track record and proven investment process to generate superior returns over time and take advantage of having a dedicated investment team on the ground in Saudi Arabia. This fund is an extension of our commitment to offer clients, both regionally and internationally, a unique suite of products throughout the MENA region" added Hashem Montasser, Managing Director and Head of Asset Management.

EFG-Hermes Asset Management has operations in Saudi Arabia, Egypt, the UAE and Qatar, with dominant market share regionally across the breadth of its businesses.