MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
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Middle East & North Africa<br />
Q/ Which firms (local / international) do you consider to be your main competitors<br />
in the region?<br />
A/ There are many regional and global players in this space. However ING IM ING<br />
Group was one <strong>of</strong> the first global financial institutions with a regional <strong>Asset</strong> <strong>Management</strong><br />
team based in Dubai. This team <strong>of</strong> investment pr<strong>of</strong>essionals has in-depth knowledge and<br />
experience across various asset classes in the Middle East and North Africa region. This<br />
gives us an edge in a competitive landscape.<br />
Q/ What was the main driver <strong>of</strong> your choice for fund domicile ?<br />
A/ ING <strong>MENA</strong> Fund is domiciled in Luxembourg and is UCITS compliant. This is a<br />
globally recognized jurisdiction for funds. The comfort that this domicile provides to<br />
investors is critical for the sustainability <strong>of</strong> the fund during different market cycles. From<br />
our side, we like to adhere to the most regulated environment that safeguards our<br />
investors’ interests.<br />
Q/ Have any recent regulatory changes in the GCC region had any impact on your<br />
business ?<br />
A/ The regulatory framework is developing in the region alongside economic<br />
development, and governments are taking the right steps in this regard. One positive<br />
development on the regulatory front was the mortgage law that was passed in Saudi<br />
Arabia, and this should have a positive impact on the banking and real estate sectors..<br />
Q/ What are your expansion plans ?<br />
A/ ING IM is looking to expand its coverage into Frontier Markets. This is in line with our<br />
strategy to assess what new areas our regional and international clients are seeking to<br />
invest in. We are also looking at a <strong>MENA</strong> High Dividend Fund and Global Petrochemical<br />
Fund to be part <strong>of</strong> our product <strong>of</strong>fering.<br />
Q/ What is your global/regional investment outlook ?<br />
A/ Forecasts for 2013 should be seen as a ‘tug <strong>of</strong> war’ between the positive dynamics <strong>of</strong><br />
monetary easing adopted by authorities, and the drags exerted by fiscal tightening and<br />
private sector deleveraging. The world is still very volatile, and imbalances make the<br />
economy very susceptible to shocks. But there will always be new shocks, and investors<br />
must remember to ride the cyclical waves.<br />
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