Pictet Funds is entering the frontier markets, with the European-wide launch of a Middle East and North Africa fund at the end of the month of May.
The fund will be managed out of London offices by Mr. Oliver Bell and Emad Mostaque, who are respectively head of the companys emerging markets specialist equities team and the investment manager within it.
The portfolio of the fund will consist of companies in the Gulf Cooperation Council countries and other selected Middle East and North African countries such as UAE, Jordan, Egypt, Morocco and Tunisia.
It will be managed and benchmarked against the MSCI Arabian Markets ex-Saudi Arabia index, but the company and team will actively consider using Saudi Arabia as an off benchmark allocation of possibly up 10 percent through select local funds.
The fund will soon be available to all investors, including institutional, private banking investors, and retail investors in the United Kingdom as well as other European countries, from 29 May.