| 04 Mar 2009 |
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Mashreq Makaseb Arab Tigers Fund maintain 'AA' rating by Standard & Poor
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Rating highlights strong investment strategy during turbulent market conditions
Dubai, United Arab Emirates, 4 March, 2009: Standard and Poor (S&P), a global leader in providing fund ratings, has reaffirmed its 'AA' very high quality rating of the MashreqMashreq
's Makaseb Arab Tigers Fund (MATF) for the second consecutive year. Standard and Poor's assessment report highlights the funds' "well defined investment approach" and "clear commitment to transparency and best practices" for maintaining its "AA" rating of the fund. The reaffirmation of 'AA' rating reflects our extensive investment experience in difficult markets and solid track record. Our focus and priority remains dedicated to ensuring investor confidence during these turbulent times," stated Ibrahim Masood, Director & Senior Investments Officer, Mashreq Asset Management. "Now more than ever, it is vital for companies to adopt stringent investment policies, and risk management framework to protect the investors."
Earlier this year, in an effort to bring international standards to the regional industry, MashreqMashreq
moved the MATF fund to Daily Dealing from twice weekly Dealing. The move highlighted the firms' on-going commitment to provide its investors with greater flexibility and convenience in managing their investments during these volatile times. "The MENA region remains a dynamic market to operate in with attractive valuations and we believe that year 2009 will be a period of recovery. Regional policy makers are implementing positive impact policies which would ensure that local economies do not experience a severe contraction", concluded Ibrahim.
MATF is an open ended investment fund denominated in US dollars with a distinguished track record and a significantly low risk profile. MATF has outperformed its benchmark, since its inception in November 2005 by 22% (as at February 28, 2009)
The fund seeks to achieve long-term capital appreciation by investing in the securities of blue chip companies listed on the stock exchanges of the Middle East and North Africa (MENA) region. The team focuses on companies with organic growth, quality of earnings and attractive valuations (P/E and P/B ratios).
The fund requires a minimum investment of $1,000 and subscriptions and redemptions take place on each business day.
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About Makaseb Arab Tigers Fund
MashreqMashreq is the investment manager of MATF while Gulf Investment Corporation, Bahrain is its custodian and administrator. International accountancy firm Deloitte is the auditor and Keypoint Consulting WLL is its registrar and transfer agents.
For further information, please contact:
Moomal Punjabi
Asset Management
Treasury & Capital Markets
Mashreqbank psc
Tel: 04 207 8396
www.makaseb.com
Email: contact@makaseb.com
For media information, please contact:
Iman Issa
Senior Account Executive
Gulf Hill & Knowlton
Tel: 04 334 4930
Email: Iman.issa@hillandknowlton.com
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