Al Mal Capital PSC, the UAE investment company, today introduced its inaugural product for distribution, the Al Mal UAE Equity Fund.
With an initial subscription period from March 1st to April 1st, the Fund is the first of many new products to be brought by the Company, licenced to operate last year by the Central Bank of the UAE. The open-ended Fund will be available to all nationalities, with continuous monthly subscription and redemption of units.
Al Mal Capital will be responsible for the asset allocation and risk management of the Fund, as well as the administration, execution and custody. The Advisory Committee for the Fund will be made up of Mohammed Saeed Al Qassimi, Salem Abdulla Salem, Mohammed Abdulla Al Sari, Adel Al Hosani, Amjad Dweik, Naser Nabulsi and Blair Look. Decisions regarding security selection and market timing will be advised by Mr. Hosani, a UAE market expert.
“We have assembled a group inside Al Mal Capital with many years of experience, through market conditions of all types, to work on the Fund’s risk management and strategy”, indicated Naser Nabulsi, Executive Chairman of Al Mal Capital.
“In addition, our fund advisor, Adel Al Hosani, manages over Dh. 8 billion in private funds in the UAE equity markets, and has posted an impressive track record. Our Advisory Committee of seven seasoned industry professionals are all Founders of Al Mal Capital and have a great deal to contribute to our Fund, by their knowledge of the local economy and companies.
Nabulsi added, “Our commitment to the Fund is such that we are co-investing Dh. 100 million, alongside investors in the Fund.”
The Fund price per unit will be set at Dh. 1.00 and is designed as an institutional product with a minimum subscription of Dh. 1 million per investor. A subscription fee of 2% will be charged on entry into the Fund.
“We think that sophisticated investors will appreciate our value proposition: Al Mal Capital will work together as fund manager with the advisors we have enlisted, with a goal of achieving consistent outperformance versus the markets”, said Blair Look, head of Asset Management at Al Mal Capital.
“Our Advisory Committee – notably Mr. Adel Al Hosani - and our in-house risk management and asset allocation skills are key differentiators between this Fund and any other UAE fund products currently available.”
Al Mal Capital is a full service investment institution, with Investment Banking, Brokerage and Asset Management. The Company has fully paid-up capital of Dh. 333 million.
