29 Sep 2020
15 Years of Al Mal Capital in thebusinessyear

TBY talks to Naser Nabulsi, Vice Chairman & CEO of Al Mal Capital, on sectoral trends, Dubai as a financial hub, and the Middle East as adestination for capital.

Which trends, such strengthening UAE-China ties and increasing limits on foreign ownership of banks, do you anticipate having the most influence? How do you foresee investors responding to these developments?


Among the global factors—US/China trade talks, US Elections, Global & EM GDP growth indicators, oil prices, central banks action and Brexit have some influence on our regional financial markets. Local factors do have strong impact as well, including the increase in foreign ownership of banks in UAE which can have a meaningful influence by driving in passive inflows, especially because banks are generally heavyweights in Indices. However, there are other variables which can move share prices in the banking sector; this includes NIM (Net Interest Margin) evolution, asset quality, further M&A/ consolidation, etc. Another factor is the leveling of off-plan sales for the real estate sector; it will be interesting to see if companies can stimulate demand at lower price points.

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17 Dec 2017
Al Mal Capital PSC Board Election

Al Mal Capital PSC has named the 7 candidates that have applied for the company’s Board of Directors.

Candidates who have put forward their names are:
  1. Mr. Khalid Jassim Mohd Bin Kalban (UAE) -  MD & CEO of Dubai Investments PJSC
  2. H.E. Mr. Ahmed Saif Ali Al Darmaki (UAE)  – Chairman ACTG Group
  3. Mr. Mr. Naser Tayseer Shawkat Al Nabulsi (UAE)  – CEO and Vice Chairman, Al Mal Capital PSC
  4. Mr. Abdulaziz Bin Yagub Bin Yousef AlSerkal (UAE) – GM Dubai Investments PJSC
  5. Mr. Ali Fardan Ali AlFardan (UAE) - Board of Director Commercial Bank of Dubai, Union Properties PJSC and Dubai Investments PJSC
  6. Mr. Mohamed Saif Darwish Ahmed AlKetbi (UAE) – Board Director Dubai Investments PJSC, Union Properties PJSC, Marka PJSC, Tasweek Real Estate, Danat Al Emarat Women and Children’s Hospital Project, Air Condition and Heating Industry (AHI).
  7. Mr. Mushtaq Masood Syed Mohideena (India) – Group CFO, Dubai Investments PJSC and Director Techsource LLC.

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27 Nov 2017
Dubai Investments leads consortium of investors to fully acquire Kent College Dubai through Al Mal Capital

Dubai, November 23, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, has led a consortium of investors to fully acquire Kent College Dubai campus through its subsidiary Al Mal Capital PSC in a sale and leaseback transaction. Dubai Investments is the anchor shareholder in the transaction.

The campus has been leased back to the operator for a long term period on a triple net basis to manage and operate the institution. Al Mal Capital structured the transaction along with its co-investment partners. The acquisition is part of Dubai Investments strategy to acquire income-generating real estate assets with a strong focus to expand its presence in the education sector. 
“This is a landmark transaction for Dubai Investments as the company enters a new chapter in its long and successful history. The focus is on building its private equity and real estate investment activities in the coming years. This transaction allows Dubai Investments to build on its institutional presence in the real estate sector,” said Khalid Bin Kalban, Managing Director & CEO of Dubai Investments.

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13 Jul 2017
Funds and equities markets in region positive with strong growth opportunities, says Al Mal Capital

Dubai, July 04, 2017: Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution licensed and regulated by the Central Bank of the UAE, today announced that the Al Mal MENA Equity Fund has generated an alpha of +7.31% this year as of June 8.

The Fund generated a year-to-date returns of +6.87% versus a drop of -0.44% for the benchmark [S&P Pan Arab Large Cap Index]. The performance is a result of the Al Mal Capital Asset Management Division’s newly-adopted deep research high conviction approach.

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18 Dec 2016
Al Mal Capital wins two awards

Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution licensed and regulated by the Central Bank of the UAE, has won two prestigious awards at the 4th Middle East, North Africa & Asia Awards ceremony held on December 15.

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05 Jun 2016
Dubai Investment PJSC : Al Mal Capital expands service offerings

Al Mal Capital , a subsidiary of Dubai Investments and a multi-line investment institution, has announced new business verticals - corporate advisory, investment management and direct investments - as part of a strategy to strengthen its market leadership.

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24 Jun 2015
Naser Nabulsi, Executive Chairman of Al Mal Capital in dialogue with the Gulf Today

Naser Nabulsi, Executive Chairman of Al Mal Capital confirmed that the company is entering a new phase of growth and expansion , after the completion of the acquisition by Dubai Investments on the 60% ​​stake of its shares . He said the deal is an important step in the company's history , with the entry of such an important partner , will enhance investor confidence in the company future.

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22 Jun 2015
Dubai Investments completes 59.66% acquisition in Al Mal Capital

Dubai, June 22, 2015: Dubai Investments PJSC [DI], the leading investment company listed on the Dubai Financial Market [DFM], has completed acquisition of 59.66% stake in Al Mal Capital
PSC [Al Mal], which when allied to the 1.20% already held by the Company, equates to an overall shareholding of 60.86%.

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01 Dec 2014
Al Mal Capital has been nominated for 8 awards by the MENA Fund Manager for 2015

We are pleased to inform you that Al Mal Capital has been nominated for 8 awards by the MENA Fund Manager for 2015. This comes as a proud achievement for the team and a strong vote of confidence in our ability to deliver proven and consistently superior risk-adjusted returns for our clients. As we approach 2015, the team will strive to further enhance investor performance and offer additional and diversified products across the different asset classes. 

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25 Nov 2014
GCC governments unlikely to scale back spending

Vijay Harpalani, assistant fund manager at Al Mal Capital, says Mena countries are unique and each requires a different investment approach.The National.

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16 Sep 2014
Al Mal capital to act as local promoter in the UAE of C-Quadrat Arts total return dynamic

Al Mal Capital is very pleased to announce that we have signed with C-QUADRAT (Austria) to act as a promoter to their total return fund "C-QUADRAT ARTS Total Return Dynamic" in the United Arab Emirates. C-QUADRAT is an asset manager specializing in quantitative and discretionary absolute and total return strategies. The company was established in 1991 and is well-known for its analysis of investment funds and as an innovative asset manager.

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31 Aug 2014
Al Mal Capital vice chairman Naser Nabulsi takes a look at the investment bank’s outlook for 2014 and beyond.

While several of our peers were severely impacted by the crisis and some had to close down their businesses, Al Mal Capital had a proactive approach in restructuring its businesses in order to safeguard the capital of the company while preserving its infrastructure and resources. We managed to distribute 40 percent cash to our shareholders. A key element to our strategy is a long term belief in the region’s potential. This is especially the case with the Gulf Countries as their economies are expected to grow significantly faster than those of many other parts of the world.

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05 Jun 2014
Al Mal Capital rewarded Best Asset Manager in the MENA Region

Dubai, UAE – June 5, 2014, Al Mal Capital is honored to be awarded the Thomson Reuters Awards for the following: Best MENA Asset Manager of the Year Best Fund Manager of the year to Mr. Tariq Qaqish

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21 May 2014
AL MAL CAPITAL sponsors the 10th Arabian Business forum in Dubai, UAE

Dubai, UAE – May 20, 2014 Al Mal Capital was pleased to sponsor the 10th Arabian Business Forum held at the JW Marriott Marquis Hotel in Dubai. The forum’s agenda was full of high level keynote speeches which addressed the spread of greed, corruption, and ways to combat its related risks. In addition, the forum discussed taxation and its impact on the Gulf countries.Dubai, UAE – May 20, 2014 Al Mal Capital was pleased to sponsor the 10th Arabian Business Forum held at the JW Marriott Marquis Hotel in Dubai. The forum’s agenda was full of high level keynote speeches which addressed the spread of greed, corruption, and ways to combat its related risks. In addition, the forum discussed taxation and its impact on the Gulf countries.

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21 Apr 2014
Dubai a solid contender in Islamic finance race

Islamic finance has been gaining popularity and benefits from the markets' insatiable appetite for sukuk or Islamic bonds. Not only are sukuk a source of high yields that attract regional and foreign players, but issuers also boast a good credit quality that, in our opinion, serves as a differentiating factor.

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06 Apr 2014

Dubai, UAE – April 6, 2014 Al Mal Capital is very pleased to announce that we have signed with ATA Invest (Turkey) to act as a promoter to their flagship equity fund “ATA Return Driven Sub Fund“ in the United Arab Emirates. ATA Asset Management (AAM) is one of the most established asset managers in Turkey and is known for its innovative and result-oriented approach. Its parent, Ata Finance Group, consists of multiple capital market businesses from asset management to brokerage and investment banking with offices in New York, Istanbul and Dubai.

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08 Feb 2014
Investment fund in Dubai is hungry for profits Read more: http://www.thenational.ae

A Dubai-based investment group is putting its money where its mouth is, creating the country’s first private fund focused on food and beverages. The move reflects the stability of demand for staples amid regional turmoil – a stability that home-grown companies have seized on. Al Mal Capital said it was raising Dh60 million for the new fund, which is to invest in casual dining, bakeries, food processing and catering opportunities across the Middle East. Al Mal’s fund plans to target the Arabian Gulf countries first, where there is high population growth and disposable income. In the Middle East, population growth is at 3.1 per cent on an annual basis, according to IMF estimates, while GDP growth is at 3.7 per cent.

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05 Feb 2014
Al Mal Capital launches the first Food and Beverage Fund in the UAE [Press Release]

Al Mal Capital is pleased to announce the launch of Al Mal F&B Fund, which aims to achieve significant capital appreciation in the medium and long term in order to provide an opportunity for investors to gain access to a wide range of private equity investment opportunities within the food and beverage sector in the Middle East, North Africa and Turkey

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18 Dec 2013
New Fund Launched as UAE Markets Steam Ahead

The firm has also recently introduced its Al Mal Food & Beverage Fund that aims to capitalise on the growing food and beverage (F&B) market of the MENAT countries (Middle East, North Africa and Turkey) now estimated to be worth around $34 billion annually and growing fast. The fund will provide stable returns by investing in existing and profitable F&B businesses across the region. The fund is set up as a closed-end vehicle, with a flexible mandate for looking across the F&B subsectors to search out value-oriented opportunities over a five year time horizon. The fund will be capped at a committed size of AED 60 million, with funds to be drawn from investors over a two to three month period.              

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13 Nov 2013
Al Mal Claims Equity Fund Manager Award, UAE, 2013

Capital Finance International (CFI.co) Judging Panel confirms the award for Best UAE Equity Fund Manager to Al Mal Capital, Dubai based Investment Company. The judges compliment the firm on its extensive range of asset management products including equity, fixed income, private equity, real estate and money market funds. Al Mal products have demonstrated solid performance led by its team of passionate investment managers, which have attained numerous awards during the past several years including best 3 year performance for UAE Equity Fund and best MENA Fixed Income Fund in 2013.

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10 Sep 2013
Al Mal Capital to act as local promoter in the UAE of Phoenix legal Financing Fund I

Dubai, UAE - September 10, 2013 – Al Mal Capital is very pleased to announce its appointment as the local sponsor and promoter in the United Arab Emirates of the Phoenix Legal Financing Fund I pursuant to a Promotion and Distribution Agreement with Centaur Asset Management Ltd., the fund’s investment advisor. Al Mal Capital has applied for and received the approval of the Emirates Securities and Commodities Authority for promotion and distribution of the Phoenix Legal Financing Fund I in the UAE. 

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08 Sep 2013
Standard Chartered to provide Custody and Fund Administration Services for Al Mal Capital

Dubai, UAE, 8 September, 2013 – Standard Chartered announced today its partnership with Al Mal Capital to provide the investment institution with Custodial and Fund Administration services. This comes as part of Standard Chartered’s continued commitment to bring best international practice to the sector in the region and the UAE.

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02 Jul 2013
UAE, Qatar's MSCI upgrades bode well for GCC

After years of efforts to enter MSCI's index, the UAE and Qatar finally received their emerging market badge in June. The upgrade involved a serious look at how both countries revised their regulatory frameworks in order to meet best practice standards and foreign investors' requirements.

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29 Apr 2013

Dubai, UAE – Monday April 29th, 2013 - Al Mal Capital is very pleased to announce they have won in two categories during the Annual Zawya Thompson Reuters Fund Awards, and tops the shortlist for awards honoring Best Fund Performance in Mena Region. Al Mal Mena Income Fund is awarded for top Income Fund of the Year in the Mena region and Tariq Qaqish is named Fund Manager of the Year for 2013.

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07 Apr 2013
Al Mal Fund Nominated by Zawya Thomson Reuters

Al Mal Capital is pleased to announce that its MENA Income Fund is nominated to “Best MENA Fixed Income Fund of the Year 2012” and Mr. Tariq Qaqish is nominated to the “Best Fund Manager of the Year 2012 (Individual)” by Zawya Thomson Reuters

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27 Feb 2013
Al Mal Capital plans expansion amid Dubai recovery

Al Mal is planning to launch two new funds during the year as it concentrates on growing its asset management division,according to Deputy Chairman Naser Nabulsi.

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17 Feb 2013
Al Mal to Boost Staff by 20% as Dubai Stocks Rally, Nabulsi Says

Feb. 17 (Bloomberg) -- Al Mal Capital PSC, a Dubai-based investment bank whose shareholders include members of Abu Dhabi’s ruling family, will boost staff by 20 percent in 2013 as the economy recovers, Deputy Chairman Naser Nabulsi said. “The first phase was to swim and survive, and we survived,” Nabulsi said in an interview in Dubai on Feb. 13. “2013 is going to be a good year for companies who prepared for the next cycle.” Investment banks in the United Arab Emirates are rebuilding their businesses more than four years after the global financial crisis triggered a real estate crash in the country and an exodus of foreign investment from the nation’s stock exchanges. To cope with the slowdown, Al Mal cut its staff to below 20 from more than 100 and shut its securities brokerage in the last three years, helping cut yearly costs by 80 percent, Nabulsi said. Volume on local bourses has picked up after Dubai’s economy grew at the fastest pace since 2007 last year and the city’s equities index jumped 16 percent in January, the best start to a year since the exchange started operations in 2000, according to data compiled by Bloomberg. Average volume last month was double the 12-month daily average, the data show.

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07 Nov 2012
Sukuk: Are they a safe haven?

Since the financial crisis hit world economies, risk aversion has been a key theme for investors. Over the past year, regional bonds and sukuk have witnessed much popularity where demand has consistently outpaced supply, specifically with issues that are backed by solid balance sheets. As global troubles continue to disturb investors, GCC debt continues to attract strong inflows. This is no surprise, as the GCC sits on trillions of dollars in surplus. According to the Sovereign Wealth Fund Institute, Middle Eastern sovereign wealth funds accounts for 35% of the world's SWFs. Gulf countries such as Kuwait, Qatar, Saudi Arabia and the UAE are only raising funds for the sake of promoting domestic debt market

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21 Aug 2012
Weathering the storm with true value

Al Mal Fund gets full marks from the experts on returns, volatility and fee structure. In the UAE’s equity universe, Al Mal Capital UAE Equity Fund has performed the best among five of its peers, outperforming the MSCI UAE index quite handsomely in the last three years, according to Zawya.com’s recently released ranking of the region’s funds. While the fund is down 5.93 per cent between March 2007 and March 2010, the decline of its peers during the same period has ranged between 25 per cent and 64 per cent. The returns of Al Mal Capital UAE Equity Fund had a dramatic decline towards the end of 2008, but made a strong recovery in 2009. 

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25 Jul 2012
Top Rated Fund Management at Al Mal Capital

Al Mal Asset Management Fund Management - A Solid Track Record. In addition to beating the market by around 32%, the Al Mal UAE Equity Fund has earned the top spot for its category in the 4th quarter of 2011. The criteria used to rank funds incorporate a set of quantitative and qualitative measures over a three-year period. Al Mal UAE Equity Fund has dominated the top rated spot since Zawya started rating regional funds back in the 4th Quarter of 2008. 

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18 Jul 2012
UAE Investment Funds Rules & Regulations

Are you aware of the new changes in the Investment Funds rules and regulations, and how it will affect the industry going forward? We at Al Mal believe in good governance and have worked closely with the Emirates Authority for Securities and Exchange (SCA) and the UAE Central Bank to support such initiatives.  Our Deputy Head of Asset Management, Tariq Qaqish, shares his views and concerns for the draft law in the attached article.

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28 Apr 2012
Rising markets lift funds

While quarterly performance is important, focus should be on the long term. On the back of increased risk appetite that led to a strong stock market rally in the first three months of 2012, Gulf equity funds, led by Saudi Arabia and the UAE, performed notably well during the period, according to Lipper, a Thomson Reuters unit. The positive feeling about the market in the first quarter, however, did not fully compensate the negative sentiment in the first quarter of 2011. Overall, according to the latest data obtained by Gulf News, funds flows in the first quarter totalled $877.3 million (Dh3.22 billion), only half of the outflows of $1,685.9 million during the same period last year.

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27 Jan 2012
2013 MENA Fund Manager Award for ‘UAE Equity Fund of the Year - 3 Year Performance’

Al Mal Capital is pleased to announce that its UAE Equity Fund won the 2013 MENA Fund Manager Award for ‘UAE Equity Fund of the Year - 3 Year Performance’. The Fund also won the MENA Fund Manager Award for ‘UAE Equity Fund of the Year’ in 2011. 

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