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The decision to start a new company reflects the industry standard for setting up alternative strategy funds.
It is envisioned that the new company will be sponsored by SHUAA Capital, which is considering both retaining a stake in it and committing seed capital for the new fund to be launched in the second quarter of 2009.
Mr. Amin El Kholy, Chief Investment Officer of SHUAA Asset Management, will continue to run the day-to-day investment management of the Gateway family of funds, on the basis of its successful process-driven investment strategy rather than relying on single fund managers.
Mr. Kerim Mitri, Deputy Chief Executive Officer of SHUAA Capital commented:
"Haissam has been a key player in the development of SHUAA Asset Management since its inception back in 2000, and going forward we will continue our association with Haissam as he develops a new product. SHUAA Asset Management holds the longest performance track record in this space. The division has a strong team of over 30 professionals, and a process-driven investment strategy which will ensure that it maintains its leadership going forward."
SHUAA Asset Management division runs 18 investment portfolios and funds.
Covering 15 organized stock exchanges, SHUAA Asset Management continues to be one of the best gateways for foreign investors to invest in the GCC and Arab stock markets.
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Eman Hassan
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