SGAM to bring Middle East Africa fund to UK

SGAM has emerged as the latest fund group to bring a so-called MENA fund - offering exposure to Midd...

SGAM has emerged as the latest fund group to bring a so-called MENA fund - offering exposure to Middle East and North Africa markets - to UK investors. The group is bringing a version of its Luxembourg-domiciled Ocean MENA fund to the UK. Ocean MENA is currently a Ucits II fund, which is only available via private placement. The group is now applying to the Luxembourg authorities to launch a MENA sub-fund under its Ucits III umbrella. Once this has been completed SGAM will be applying to the FSA for fund distribution in the UK. Ocean MENA is a 30 to 60 stock fund run on a total re...