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Gemini seeks Mena expansion

UK-based Gemini Investment Management has partnered with the National Bank of Abu Dhabi Asset Management Group to launch a Middle East and North Africa credit fund. The fund, which will be run by NBAD Asset Management Group head of fixed income Mark Watts, is expected to launch by September. It will invest in investment grade credit, which is mostly government-owned. The overall rating is expected to be 'A-' but the team will invest further down the scale to 'BBB+.' It will aim for a 5 to 6% yield.