Press Room

24/10/2007 Al Mal Capital PSC, the UAE Investment Bank, announced the listing of its UAE market mutual fund, the Al Mal UAE Equity Fund, on the Dubai Financial Market under trading symbol AMC UAE.
Posted on 24 Oct 2007

The Fund was launched in April 2006 at an initial offering price per unit of Dhs1.00. Since that time, the Fund has outperformed the benchmark MSCI UAE Index by a margin of 35%. Year to date, the Fund is up in excess of 30%, versus the benchmark MSCI Index's return of 14.8%.

Al Mal Capital, as Fund Manager, is responsible for the overall risk management, administration and coordination of the management of the Fund, working closely with the Fund's key advisor Adel Al Hosani. The Fund's Advisory Committee, comprised of prominent UAE market experts and Al Mal executives, provide regular feedback and insight into local and regional opportunities.

'The listing of the Fund will provide additional transparency and flexibility for existing investors, as well as visibility and an interesting alternative for new market participants', indicated Blair Look, Managing Director of Asset Management at Al Mal Capital. 'We are pleased with the track record that this Fund has achieved in challenging market conditions, and we feel that our proven ability to outperform will continue, and show attractive returns to investors as we move into a more exciting phase of performance for local markets'.

Look added, 'This is one of the few funds available locally with a mandate to actively manage invested positions alongside cash for a more absolute return type of investing profile. We think this, along with our track record since the Fund began, differentiates our Fund from other funds available.'

Al Mal Capital is a full service Investment Company, licensed and regulated by the Central Bank of the UAE, with paid-up capital of Dh. 333 million. Al Mal derives its leadership position from its powerhouse list of founders and experienced team of professionals, along with the application of the highest international standards. The Company provides its prestigious list of clients with Investment Banking, Brokerage and Asset Management services.