PRESS RELEASE
Emirates NBD Asset Management's flagship equities offering, Emirates MENA Top Companies fund, reaches 10-year milestone
- The fund has outperformed its benchmark in each of the 10 years since inception, generating a total outperformance of over 43% since 2007
- The fund has consistently been ranked in the top quartile of performers in the Morningstar Africa and Middle East Peer Group for the past 5 years
- Outlook for the asset class and fund is bright, with Saudi Arabia’s likely inclusion in the FTSE Russell and MSCI emerging markets indices in the first half of 2018
Dubai, United Arab Emirates, 24th October 2017: The Morningstar rated flagship equities fund of Emirates NBD Asset Management, Emirates MENA Top Companies Fund, has reached its 10th anniversary. The four star rated fund has demonstrated consistently strong performance against its benchmark, the S&P Pan Arab Index, while exhibiting remarkably low volatility compared to its peer group. The fund’s strong performance has placed it in the top quartile of its peers on a risk-adjusted basis.
| Five years ending September 2017 |
Cumulative return |
Annualized return |
Annualized standard deviation |
Sharpe Ratio |
|---|---|---|---|---|
| Emirates MENA Top Companies Fund P Share Class | 40.56 | 7.05 | 14.48 | 0.47 |
| Percentile 25 | 36.48 | 6.42 | 14.10 | 0.42 |
| Percentile 50 | 29.82 | 5.36 | 14.69 | 0.35 |
| Percentile 75 | 14.25 | 2.70 | 15.10 | 0.19 |
Salman Bajwa, Senior Executive Officer of Emirates NBD Asset Management, commented:
"Exciting changes lie ahead for the region in the next twelve to eighteen months. Catalysts like the strong IPO pipeline in the UAE and the likely inclusion of Saudi Arabia in the FTSE Russell and MSCI emerging markets indices in 2018, auger well for regional equity markets. Post any Saudi MSCI inclusion the GCC as a region could command a weighting of 4% - 5% in the index, equivalent in size to Mexico, Russia, Hong Kong and South Africa. Attention of foreign investors is likely to remain on the region with several high profile Saudi IPOs from the second half of 2018 onwards, and we are already in discussions with our clients to position them to take advantage of these potential opportunities."
Yong Wei Lee, Head of MENA Equities, Emirates NBD Asset Management, added:
"The underpinning of the Fund’s stellar performance has been the consistent and disciplined approach to stock selection of our highly experienced portfolio management team. Our team of analysts carry out in-depth analyses of company financials, followed up with qualitative field work by company and management visits, to arrive at their recommendations. The overlay of a robust risk management framework ensures we achieve healthy returns without taking excessive risks on our client portfolios."
A key part of Emirates NBD Asset Management’s success has been its development of a wide range of products and a diversified portfolio of global funds, designed to support a number of targeted emerging markets. Emirates NBD Asset Management also established partnerships with other first-class organizations during this period, for example Jupiter Asset Management and UTI International. The first fund from the partnership with UTI International is the Emirates Islamic India Equity Fund. This is a crucial part of Emirates NBD Asset Management’s long-term strategy to establish relationships with global partners, to help develop its in-house product range and unlock additional emerging market opportunities.
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