AL MAL CAPITAL TO ACT AS LOCAL PROMOTER IN THE UAE OF ATA RETURN DRIVEN SUB FUND
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.
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.
Ata Return Driven Sub Fund replicates the strategy of AAM’s longer-running key flagship product Equity Fund (ATA Equity Fund), which has performed strongly since its inception in June 2010: The Fund has provided a cumulative net return of 67.4% between June 2010 and March 2014, which beat the ISE-100 Index by 44.8%, creating an annual average alpha of 9% for its investors. ATA aims to offer its expertise in Turkish markets and fundamentally-driven alpha generating skills to MENA investors who wish to participate in the upside potential of Turkish markets.
Tariq Qaqish, Head of Asset Management at Al Mal Capital, said: “We are excited to offer to our valued clients the opportunity to invest in Turkish equities.” “We aim to provide investors with best of breed products that offer our clients uncorrelated products for portfolio diversifications.”
Murat Demirel, Chief Executive Officer of ATA Finance Group, said: “We are delighted to partner with Al Mal Capital for the promotion and distribution of ATA Return Driven Sub Fund in the UAE. Al Mal’s reputation as a premier asset management firm in the UAE will allow us gain access to UAE’s investors and be able to display our Fund’s performance and growth potential.” “ATA strongly believe in the long term potential of Turkish economy and capital markets. Based on our experience, Turkish stocks provide solid risk-adjusted return.”
Mehmet Gerz, the Chief Investment Officer of Ata Asset Management said: “After a sharp correction in the second half of 2013, due to both domestic and global factors, Turkish Stocks are now among the cheapest among the large emerging markets. Based on average Price-to-Earnings ratios, Istanbul Stock Exchange valuations are at a 5% discount to Emerging Market average, and at a 30% discount to Developed Market average.”
During the last ten years, Turkey has witnessed serious sets of economic transformation resulting in lower inflation and interest rates while GDP per capita surpassed USD10,000 levels. With a GDP of USD800 billion, Turkey is considered the largest economy in the Middle East and Southern Europe. With a population of 77 million, it has a vibrant domestic market and has caught foreign investors’ attention. The Government aims to focus more on balanced growth as it tries to improve its large current account deficit and at the same time increase domestic savings, which will lead to a healthy growth in local capital market. Lower oil and energy prices as a result of Chinese slow-down should help Turkey which itself is a large importer of oil and natural gas.
ABOUT AL MAL CAPITAL
Al Mal Capital is a diversified, multi-line investment institution, licensed and regulated by the Central Bank of the United Arab Emirates and headquartered in Dubai. The Company commits to uphold the highest levels of service quality, integrity and corporate governance standards, and places a strong emphasis on the company's principles in conducting business. Al Mal Capital offers a wide range of investment products and services for institutions, banks and HNWI’s, encompassing Investment Banking, Asset Management, and Brokerage.
Al Mal Capital PSC
T: + 971 4 360 1111
ABOUT ATA INVEST
Ata Invest is one of the leading and most established independent financial service houses in Turkey. It is licensed and regulated by Capital Market Board of Turkey.
Ata Invest provides broad range of services at international levels. Our franchise consists of Investment Banking, Institutional Brokerage, Wealth Management, Asset Management and Proprietary Investment Funds, Equity Research, Derivatives, as well as Forex.
Ata Invest has accessibility to a vast and diverse range of investors from all around the world through Ata Invest Turkey, Ata Invest GCC and Ata Invest New York City office. Since Ata Invest GCC’s foundation in Dubai in 2006, company has built successful and long-lasting relationships with important Gulf region investors. Moreover, company has been fully operational in New York City since 1996. Ata Invest has also established key strategic partnerships globally in order to attract and present investment opportunities in Turkey to foreign investors.
T: + 90 212 310 63 60
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