Doha Bank launches Mena fund to benefit from market growth

Doha Bank has launched the open-ended Al Hayer GCC & Mena Fund for Qatari individuals, corporates and institutions. The fund seeks medium to long term capital appreciation by investing in a portfolio of companies listed on major stock markets across the Mena region.

The fund aims to consistently outperform markets in a disciplined and risk-controlled manner and will invest for medium to long-term performance in carefully selected companies that demonstrate strong business models, sound management, and good earnings growth with attractive valuations, the bank said in a statement.

Al Hayer Fund offers shareholders the flexibility of the sums they would like to subscribe to. The initial offer period is open until July 11.

Doha Bank Group CEO, Dr R Seetharaman said: “Al Hayer GCC & Mena Fund is designed to invest in blue-chip high performing equities in the region to reflect the positive growth seen in the overall market recently. While most funds available in Qatar invest in Qatar-based equities, Al Hayer Fund is unique in that it invests in the GCC (Gulf Co-operation Council) and Mena (Middle East and North Africa) markets and aims to deliver above average returns with below average risk through investing in a diversified and carefully selected portfolio of companies across major market sectors.”

Al Hayer Fund will be managed by ING Investment Management (Middle East) Limited.

The fund offers investors diversification benefits covering multiple countries and sectors, coupled with ease of investment through a simple application and subscription process, followed by monthly net asset value (NAV) updates for all investors to help them keep track of fund performance during the investment period.

“The combined local presence and regional expertise of Doha Bank adds significant value to this process as regional capital markets are less mature than counterparts in the West and the region’s companies are inadequately covered by analysts,” Seetharaman said.