Mr. Manaf Alhajeri, General Manager of Markaz, said:
"We thank SFM Group for entrusting Markaz with the management of the Middle East Performance Fund. This trust lies on an excellent track-record spanning many years and the capacity to propose custom made investment solutions to institutional investors. The Middle East possesses some enticing investment opportunities, and despite the financial crisis, is forecasted to be the second fastest economy after emerging Asia owing to large financial surpluses, massive oil reserves, and liquidity As per agency projections, the Middle East region is expected to grow by 2.5% during 2009 while the world economy is expected to contract by 1.3%. In light of economic recovery, the region is expected to bounce back much more swiftly than developed world."
Mr. Derek Chambers, Chairman & CEO of SFM Group, said, "We select our partners based on their reputation in the field and performance track record, and our due diligence is stringent and extensive. Our objective is to offer the best of breed local asset managers to sophisticated investors interested in emerging markets."
"The Fund will invest in Mena Markets, as we can see attractive investment opportunities over the long term, in order to benefit from the wide spectrum of fundamentally strong and growing sectors. It completes nicely our range of emerging market funds," he added.
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