The Arab Bank plc and Atlas Investment Group have announced the approaching of the closing of the Arab Bank Middle East & North Africa (MENA) Fund on August 31, 2005. The Arab Bank plc has invested US$5 million in this open-ended mutual fund, which will be managed by Atlas Investment Group, a wholly owned subsidiary of Arab Bank plc.
The Arab Bank MENA Fund is a flagship, regional product for Arab Bank plc that seeks to capitalize on the positive economic trends and investment opportunities in the region. It will invest primarily in the equity markets of the Middle East and North Africa by employing a diversified asset allocation strategy that includes equity and fixed income securities markets.
The Arab Bank MENA Fund is open for both individual and institutional investors, and the deadline to participate in the initial subscription is August 23, 2005. Investors can either subscribe through Atlas’ offices or contact any of the Arab Bank branches. The minimum subscription amount is US$25,000.
The Investment Manager, Atlas Investment Group, is a wholly owned subsidiary of Arab Bank Plc. Atlas is celebrating its 10th year anniversary as one of the oldest, full-fledged investment banking firms in the MENA. Serving institutional, corporate, government, and individual investors, Atlas is a leading firm providing the full range of financial services, including asset management, corporate finance, brokerage, and research.
With total assets of over US$27 billion and assets under management of US$5 billion, Arab Bank Plc has been operating in the Middle East and North Africa region since its inception in 1930. With the largest network of any regional bank, it has a presence on the ground in nearly every country in the region either directly or through affiliates.
