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Al Mal Capital, Azimut Group to launch equity fund

Al Mal Capital, Azimut Group to launch equity fund
The fund will be branded AZ Fund Al Mal MENA Equity
Dubai Investments
DIC
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Dubai – Capital: Al Mal Capital, a subsidiary of Dubai Investments, on Tuesday announced the signing of a partnership agreement with Azimut Group to set up the UCITS Middle East and North Africa (MENA) equity fund

The fund will be created by Azimut Luxembourg Fund Management Company within its UCITS Umbrella Fund, according to a company statement to the Dubai Financial Market (DFM).

“The Fund will integrate the distinctive investment advisory capabilities of Al Mal Capital with Azimut Group’s global portfolio management team, comprising more than 100 professionals across its international network,” Al Mal Capital added.

Branded AZ Fund Al Mal MENA Equity, the fund will reflect the strategic partnership between both companies, Al Mal Capital revealed, noting that Azimut will add the fund to its global portfolio.

The strategic cooperation agreement inked by Al Mal Capital and Azimut Group also includes joint marketing initiatives.

“With more than $50 billion in assets under management, Azimut is one of the largest and fastest growing asset managers in Europe and we are very pleased to have them as a partner,” said Naser Nabulsi, vice chairman and CEO of Al Mal Capital. 

“Thanks to Azimut UCITS umbrella platform and their global distribution footprint, Al Mal’s highly successful MENA equity strategy will now be accessible to institutional and private investors around the world,” the top official added.

The strategic partnership with Al Mal Capital is considered a progress in our strategy in MENA, which target an elevated presence in the Dubai International Financial Center (DIFC) through AZ New Horizon, Azimut Holding’s CEO Sergio Albarelli concluded.