BlackRock, the world’s largest asset manager, is bolstering its presence in the Middle East with the launch of a research unit in the region and a relocation of its chief strategist. The BlackRock Investment Institute Middle East, which publishes financial research and investment analysis for portfolio managers will open in the UAE. The unit will ..read more

Saudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF) has appointed Fahd AlSaif as head of its investment strategy and economic insights division. Based in Riyadh, he will be responsible for developing the fund’s investment plans as well as overseeing its sustainability and net zero strategies and observing market trends. AlSaif will also continue in his previous role as head of the fund’s global capital finance division which includes the management of the fund’s capital finance strategy development, government asset transfer projects, capital raising and structuring, funding ..read more

London-based alternative asset manager Arrow Global has secured a $400 million commitment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (‘ADIA’), the emirate’s sovereign wealth fund, for its European real estate lending strategy. The investment expands the relationship between Arrow Global and ADIA, with an ADIA subsidiary also an existing investor in Arrow Global’s Opportunistic Credit strategy. “This agreement with ADIA to commit to our flagship European Real Estate Lending strategy comes at an ideal moment for living sector assets,” said Zachary Lewy, founder, CEO an ..read more

Sovereign wealth funds (SWFs) are turning to emerging markets (EMs) in increasing number as a way to mitigate rising geopolitical tension. The latest global sovereign asset management study produced by Invesco found that 95% of sovereign investors cited geopolitical tension as the most serious risk to economic growth over the next 12 months. Whilst inflation and interest rates remain serious concerns, as cited by 68% and 70% of Mena sovereign funds respectively, trade disputes between major powers is the principal risk for these investors. Mena funds dominate sovereign wealth spending Accordi ..read more

The popularity of the GCC’s fixed income market has enjoyed a boost in popularity in the first half of 2024, according to figures released by the Kuwait Financial Centre (Markaz). Issuance of sukuk and bonds in the region grew by 38% from US$54.8 billion to $75.5 billion in the six months. Primary debt issuance reached 173 compared to 130 for the same period in 2023. ESG sukuk market forecast to exceed $50bn Saudi Arabia was the dominant market raising $37 billion through 44 issuances, accounting for 49% of the total raised in the region. The UAE was the next most active country raising $20.6 ..read more

Inflows into GCC equities have increased from overseas investors. Foreign buyers, both institutional and retail, have remained net buyers of GCC-based stocks for the second quarter of 2024, according to data from Mena-based asset manager Kamco Invest. Net buying reached US$3.5 billion, an increase on $1.5 billion in the first quarter of the year. Inflows for GCC equities hit two-year high Saudi Arabia remained the most popular market with net buying of $3.5 billion, followed  by Abu Dhabi ($766.6 million). Net sales increased though, from $67.1 million in Q1 to $430.7 million in Q2. The ..read more

Two ETFs tracking Saudi equities have been listed in China in a move emblematic of the developing ties between the two countries. The China Southern Asset Management CSOP Saudi Arabia ETF QDII is listed in Shenzhen, while the Hautai-Pinebridge CSOP Saudi Arabia ETF QDII is trading in Shanghai. The two ETFs raised US$87 million and $81.2 million respectively. Saudi ETF to list in Tokyo The CSOP ETF initially launched in Hong Kong in November 2023 with $1 billion in investment as the first ETP with exposure to the Saudi Arabian equities market to be listed in Asia Pacific. Mena investors and we ..read more

Bahrain-based asset manager Sico Capital has made a number of changes to its board of directors. The revamped board, which will sit for three years, includes two new independent members and three new representatives from the parent company Sico. The independent additions are Fawaz Khalid AlBawardi and Mohamed Sameer Ghonaim. Sico names chairman of the board AlBawardi serves on a number of boards and is also head of asset management at AlBawardi Group. Ghonaim is the co-founder and former CEO of D360 Bank, Saudi Arabia’s first digital bank. The three additions from Sico are Khalid Abdelaziz Al ..read more

UAE-based asset manager Kamco Invest has debuted a new version of its investment app. According to Kamco, the app has been enhanced at both front and back end with improvements to account opening, KYC updates, dashboard functionality and transaction processing. Users data will be integrated with the Public Authority for Civil Information system, to help with identity authentication. Kamco Invest launches UK alternatives business There has also been a redesign of the dashboard to give a more comprehensive view of users’ portfolios. According to Nawal Mulla-Hussain, managing director of support ..read more

The Thailand Board of Investment (BoI), the government agency responsible for promoting foreign investment in the country, has opened its first Mena office in Saudi Arabia. The announcement was made at the Saudi-Thai Investment Forum held in Riyadh. The Saudi office, also based in Riyadh, will cover 13 countries in the region, including the GCC states and also Turkey. Kuwait wealth fund to open Saudi office According to BoI secretary-general Narit Therdsteerasukdi, the forum and the Saudi office are both designed to maximise bilateral trade and investment cooperation. “We hope that investors ..read more