Rasmala GCC Fixed Income Fund - Rasmala Investment Bank
Rasmala GCC Fixed Income Fund - Rasmala Investment Bank
Rasmala GCC Fixed Income Fund - Rasmala Investment Bank
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Investment</strong> Strategy Overview<br />
Summary of Allocations<br />
Geographic<br />
Allocation<br />
Sector Allocation<br />
Credit Rating<br />
Coupon Type<br />
Ownership Type<br />
Portfolio Duration<br />
Largest weights are to Bahrain, Dubai and Kuwait whose allocation is around 57%. Their<br />
exposures are supported by attractive risk adjusted returns.<br />
The largest allocation is to the financial sector which has benefited from strong systemic<br />
support in the <strong>GCC</strong> and an improvement in the credit cycle.<br />
The weighted average credit rating of <strong>Fund</strong> has shifted from BBB+ to BBB- in order to<br />
provide a credit spread cushion in a rising interest rate environment.<br />
The <strong>Fund</strong> has started investing in floating rate exposure in anticipation of a higher interest<br />
rate environment.<br />
Predominantly corporates which currently offer more compelling risk adjusted returns<br />
relative to government and government related entities.<br />
The modified duration of the <strong>Fund</strong> will be held below five years in the near term to limit<br />
portfolio volatility.<br />
<strong>Rasmala</strong> <strong>GCC</strong> <strong>Fixed</strong> <strong>Income</strong> <strong>Fund</strong><br />
09
Change language