Multi-managers have questioned claims Mena funds are uncorrelated to developed markets and many are concerned over timing of launches
New Star is the latest group to announce it is looking into a Middle East and North African launch but multi-managers are beginning to question claims these are uncorrelated to the developed market. Only one multi-manager out of four contacted currently holds a fund focused on the Middle East or Africa in their portfolios despite recent launches from Investec, Franklin Templeton, Barings and SGAM. In April, Investec launched two offshore funds Africa and Middle East (Ame) and Middle East and North Africa (Mena), drawing on the expertise of Roelof Horne, manager of its African vehicles a...
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