State Street Global Advisors (SSGA) has set its sights on wholesale distributors in the Mena region following the launch of two active equity funds in the UAE.
The funds will be available to both institutional investors and wholesale distributors in the region and marks the asset manager’s first push in the Mena funds market.
The State Street Global Value Spotlights fund and the State Street Global Opportunities Equity fund are both domiciled in Luxembourg and registered with the UAE’s Securities and Commodities Authority. They are benchmarked to the MSCI World Index and MSCI All Country World Index respectively.
“The wider MENA region, and the UAE in particular, is a key market for us,” said Emmanuel Laurina, head of the Middle East & Africa at SSGA. “These funds both expand our offering and demonstrate our commitment to the region.
“The Middle East continues to experience growth as it pursues an ambitious diversification and transformation program to reduce reliance on oil with the UAE’s GDP forecast to grow by 6.2% in 2022 and 6.7% in 2023,” he added.
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