Al Mal eyes promising outlook for UAE equities to build on 15-year outperformance
(EMAILWIRE.COM, November 24, 2020 ) Leading fund manager marks 15-year track record of outperforming peers and indices in UAE equities
Fund aims to leverage reforms that offer scope for domestic growth and expat influx
Fund is up year to date while paying a 4.5% dividend to shareholders
UAE (Arab Newswire) Al Mal Capital (AMC) aims to continue the stellar performance in its UAE Equity Fund due to the growing diversity in the domestic economy and with the reforms that are expected to attract more foreign investors.
Following the launch
Commenting on the Funds performance, Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital said: The investment landscape in 2020 was challenging across the region and globally. However, our asset management teams stellar performance proves that active portfolio management with a skillful team, clear strategies, consistent application of investment policy and processes can outperform in challenging times.
Being selective breeds success
The real estate and financial sectors have been under pressure this year, the fund which has exposure of nearly 60% to these industries has benefited from a combination of its allocation to defensive sectors and by taking an active approach in investing in oversold names, reveals AMCs Head of Asset Management, Sherif El Haddad.
The fund has also benefitted from M&A activity in the UAE and continues to be positioned in businesses with good management where the firm sees strong growth potential.
Laying foundations for the future
Other reasons for optimism from a macro perspective, with proactive reforms and initiatives to drive growth going forward, comprise off the Dubais governments AED500 million economic stimulus package to support various business sectors across the economy, with the package targeted to shore up SMEs, through a set of rent reductions and fee exemptions and also the Abu Dhabi governments roll out of the anticipated FDI license, allowing foreign investors to hold 100% ownership of their businesses within the emirate
In line with these trends and growth prospects, the fund plans to continue to pay shareholders a dividend of 4.5% of the funds NAV. added El Haddad.
ENDS
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 HNWIs, encompassing Asset Management, Investment Banking, Direct Investments and Capital Markets.
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AL MAL CAPITAL
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