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
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Gulf Cooperation Council Region<br />
A/ SAPL positions itself with institutions such as <strong>National</strong> <strong>Bank</strong> <strong>of</strong> <strong>Abu</strong> <strong>Dhabi</strong>, Emirates<br />
NBD <strong>Asset</strong> <strong>Management</strong> and Franklin Templeton Investments..<br />
Q/ Do your funds have ratings from agencies such as S&P?<br />
A/ While our underlying fixed income investments are rated, our funds themselves are<br />
not rated and we do not foresee the need for the funds to be rated in the near future.<br />
Q/ What is the impact – if any - <strong>of</strong> recent regulatory changes on your business?<br />
A/ SAPL’s new initiatives and strategic plans are formulated keeping in mind the<br />
changing regulatory environment, including SCA’s Investment Fund Regulation. We are<br />
awaiting further clarification on the requirements for a clear direction.<br />
Q/ What are your expansion plans ?<br />
A/ SAPL has promising and exciting plans for 2013. We intend on launching new debt<br />
and equity funds with some unique inbuilt features. We are working towards expanding<br />
our team, distribution network and product universe in 2013.<br />
Q/ What is your investment outlook ?<br />
A/ Economic growth indicators are improving and point towards recovery. Global GDP<br />
growth is likely to have bottomed out and is expected to rebound from Q4 <strong>2012</strong> on to H1<br />
2013. Aggressive central bank easing will remain in place globally with core inflation in<br />
the US and in Europe stable in the short term. Stable oil prices should keep inflationary<br />
pressures in check in the developed world and in Emerging markets.<br />
Political risks are likely to lead setbacks on the equity markets until the end <strong>of</strong> <strong>2012</strong> and<br />
equities should be cheaper as earnings growth slows. Despite numerous economic<br />
challenges, we expect 2013 to be good year for global equities on the back <strong>of</strong> low market<br />
interest rates, dearth <strong>of</strong> investment alternatives and robust corporate earnings growth.<br />
Emerging market equities are likely to rebound sharply in a growth acceleration phase.<br />
We expect encouraging movement in the Euro and foresee a number <strong>of</strong> positive<br />
developments that will reinforce a medium-term recovery <strong>of</strong> the euro zone. We believe<br />
that investors will look to gold as a safe haven surrogate currency, further reinforcing<br />
93
Change language