Dubai-based asset manager Amwal Partners is to establish a new division to tap into opportunities in the GCC’s fixed income sector.
The firm, which has manages around US$2 billion in assets, has a client list that includes sovereign wealth funds as well as institutional investors and family offices.
The new business will be led by two co-heads, Zeina Rizk and Sharif Eid.
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Rizk was most recently at UAE-based asset manager Arqaam Capital.
Eid joins from Franklin Templeton where he was a portfolio manager for its fixed income business in Dubai.
In a statement issued by Reuters, Amwal said it was “excited by the opportunity presented by the fixed income asset class broadly and more particularly in this part of the world where the asset class is rapidly expanding and the yield opportunity is real”.