SAUDI ARABIA: NCB Capital is planning to launch four investment funds in the second half of this year as it seeks to boost assets under management by 10-15%.
The funds comprise two foreign and two locally-focused funds.
Jawdat Al-Halabi, its CEO, said that the two new international funds will comprise a mix of equities, commodities and Sukuk with an initial fund sizeof around US$30 million each.
The domestic funds will invest in small and medium-sized enterprises and real estate.
NCB Capital’s plans follow a strategic alliance entered into with US-based Trust Company of the West and France’s Amundi to manage its international equity funds and aid the expansion of its products and services internationally.
Jawdat said that the partnership will create one of the largest and most diversified Shariah compliant fund platforms in the world.