Gulfmena launches its second fund

Gulfmena announced today the launch of the “Gulfmena Access Fund”. The Luxembourg-regulated fund will focus on capturing excess returns in MENA equity markets relative to the S&P Pan Arab Composite Index. It will be managed by Haissam Arabi and his team from Gulfmena Investments Ltd (‘Gulfmena’), a Dubai based and DFSA regulated asset management company which has recently won Asian Investor’s 2011 Investment Performance Awards, Middle East Onshore Fund House. Mr. Arabi has previously managed a similar strategy which received several accolades and has one of the longest and best performing track records in the region.

“Investors, especially foreign investors, still look at the region as an out of index bet and are specifically interested in the volatility it offers. They are interested in taking advantage of a directional call on high oil prices, a peak in the commodities cycle or purely event or thematically driven situations due to, for example, excessive government spending. For that, we have created the ideal access product.

The fund is actively managed and is designed to fully capture the upside potential of these markets and their directional sector specific moves. Its unique and very competitive pricing structure makes it not only highly affordable but capable of better optimizing returns in favor of investors” said Haissam Arabi CEO and Fund Manager of Gulfmena.

Gulfmena also manages an absolute return fund. With the launch of this long-only relative value fund it can now cater to both alternative and traditional investors seeking access to the region.

The company has raised over $65mn in assets under management (AUM) in its second year of operations, despite difficult regional markets and a challenging fund raising environment. It has also added two directors to its board, Mr. Amjad Al Dwaik and Mr. Mark DeSario. The company’s solid shareholder base now includes, in addition to the management’s share, prominent families from the region including the Malhas Family, a Saudi based family office.

“We are and continue to be committed to the region despite recent events. The launch of this fund is a clear demonstration of that commitment. Our goal is to offer investors the best solutions for extracting value on their investments and portfolios in MENA. We believe that the “Gulfmena Access Fund” exemplifies that objective. Its launch comes at a time when the region is faced with turmoil, re-emphasizing the opportunities the region offers, as well as taking advantage of distorted and cheap valuations today which will represent tremendous value tomorrow”, added Amjad Al Dwaik, Board Member of Gulfmena.