Emirates Emerging Markets Equity Fund, sub-advised by Jupiter Asset Management, has outperformed the MSCI Emerging Markets Islamic Index by over 6%

Emerging markets strategies continue to perform well; new opportunities in Saudi Arabia and India identified

Strong fixed income performance supported by increased attractiveness of emerging market debt

Dubai, United Arab Emirates; 23rd November 2016 

Emirates NBD Asset Management today celebrates three years of successful partnership with Jupiter Asset Management. The partnership sees Jupiter Asset Management managing four strategies, including the Emirates Emerging Market Equity Fund, which on a YTD basis has outperformed the MSCI Emerging Markets Islamic Index by over 6% (20.19% vs 14.12%). The partnership supports Emirates NBD Asset Management’s aim to develop a portfolio of global funds and a range of emerging market strategies.

Tariq Bin Hendi, CEO, Emirates NBD Asset Management commented:

“We are delighted to have reached this landmark with Jupiter Asset Management and for the partnership to have been such a success, in terms of performance and the broadening of our emerging market strategies. After three years of partnership, there is plenty to look forward to as we assess the scope and range of further emerging market opportunities. Collaborating with leading international players such as Jupiter and UTI International is a crucial part of our growth strategy.”

Emirates NBD Asset Management’s emerging market strategies include the Emirates Emerging Market Corporate Bond Absolute Return Fund. This fund has performed well, both on an absolute and relative basis, and has consistently been in the top quartile throughout 2016, standing at 16.27% YTD and with a current yield of 5.64%*. The fund’s performance has been supported by factors including accommodative monetary policies by major central banks and lower yields in developed markets, which have made emerging market debt more attractive.

Usman Ahmed, Managing Director, Investments, Emirates NBD Asset Management said:

“There are a number of key opportunities in emerging markets. Growth is predicted to increase from 4% in 2015 to 4.7% in 2017.** Higher growth leads to higher equity market returns, while lower yields in most developed markets have meant that money has flown to emerging markets in the hunt for higher yields. Other positive signs for growth are loosening policy, low levels of developed market activity and a recent stabilisation in currencies. There is also strong productivity potential from young and aspirational demographics.”

Kevin Scott, Head of EMEA, Jupiter Asset Management added:

“Three years of collaboration with Emirates NDB Asset Management is something we’re thrilled to be celebrating and we look forward to many exciting years to come. We believe our focus on retaining the best investment talent, preserving our culture of investment freedom and individual accountability, together with an emphasis on stock specific analysis, puts us ahead of the curve and helps us in our aim of delivering outperformance to clients over the medium to long term. With a good history of collaboration with Emirates NDB Asset Management we are looking ahead to what can be achieved for our clients in the coming years.”

Emirates NBD Asset Management recently announced a new partnership with UTI International, one of India’s largest money managers. The partnership’s first fund will be the Emirates Islamic India Equity Fund, which will be managed by UTI and offer exposure to Shari’a compliant Indian equities. India has many positive fundamentals and is expected to be among the world’s top five economies by 2020. Ongoing fiscal reforms, as well as infrastructure and skills development present attractive investment opportunities that underline the rationale for the partnership.

Praveen Jagwani, CEO, UTI International commented:

“There are superb opportunities for investment in India, as it is benefitting from economic liberalisation supported by manufacturing growth, job creation and an improving business environment. We will combine Emirates NBD Asset Management’s unrivalled knowledge of Gulf investment appetites with our own experience as one of India’s oldest money managers to deliver attractive returns.”

As part of a drive to unlock other emerging market opportunities, Emirates NBD Asset Management has identified Saudi Arabia as an important focus market, with its MENA Equities funds already providing exposure to the Kingdom. The case for further exposure in Saudi Arabia has grown in the light of oil price stabilisation and government efforts to diversify the economy following the announcement of Vision 2030 and the National Transformation Plan. The collective market capitalisation of the Kingdom’s publicly listed companies is comparable to some of the largest emerging economies, highlighting clear opportunities in equities.     

Yong Wei Lee, Head of Equities, NDB Asset Management explained:

“There is a lot of potential for foreign investment in Saudi Arabia, particularly since the launch of Vision 2030. This vision aims to rationalise subsidies while diversifying the economy and increasing foreign investment – a huge opportunity for Emirates NBD Asset Management and its partners. Saudi Arabia is one of a number of emerging market opportunities that we are positive about, especially in view of a potential inclusion in the MSCI Emerging Market Index.”

- Ends-

*As at 4th November 2016

**IMF – January 2016 Outlook

About Emirates NBD Asset Management:
Emirates NBD Asset Management Limited (Emirates NBD Asset Management), established in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority as a Category II Firm, is the wholly owned asset management business of Emirates NBD Bank, one of the largest banks by assets in the MENA region. Emirates NBD Asset Management provides a wide range of investment solutions, from in-house managed public funds to tailor-made discretionary solutions. It manages funds across a variety of asset classes, including MENA equity and global fixed income, global risk profiled solutions, UAE real estate, and a wide range of Shari'a compliant instruments, structured to cater for diverse risk appetites.

Each of the Emirates NBD Asset Management managed funds are currently domiciled in either Jersey (regulated by the Jersey Financial Services Commission) or Luxembourg (regulated by the Luxembourg Commission de Surveillance du Secteur Financier). As at 30th June 2016, Emirates NBD Asset Management had assets under management of approximately USD 3.5 billion.

About Jupiter Asset Management:
Founded in 1985 as a specialist boutique, Jupiter has become one of the UK’s most respected and successful fund management groups. We are an active fund manager seeking to add value for our clients through the delivery of investment outperformance over the medium to long term. Our distinctive investment culture is built on allowing talented fund managers the freedom to pursue their own individual investment approach on behalf of our clients.  Jupiter’s investment approach revolves around one concept. We seek to optimise performance over the medium to long term without exposing our investors to unnecessary risk. We believe people are the key to success and are committed to attracting and retaining some of the most talented fund managers in the business by creating the right culture for them to operate in.

Jupiter has 453 employees and assets under management of $52.4bn as of 30/09/2016.  Jupiter Fund Management has been listed on the London Stock Exchange since June 2010.

About UTI International (Singapore) Private Ltd:
UTI International Singapore Private Ltd is the flagship company representing the offshore interests of UTI AMC. It helps global investors invest in India. Current investors include private banks, family offices, Insurance companies, pension funds and other financial institutions.

UTI Asset Management Company (UTI AMC), the parent entity, is the leading manager of Indian Equities, Fixed Income and Private Equity, with a robust investment process that has withstood the test of time. As a group, UTI has an AUM of USD 42 billion and manages money for more than 10 million clients.

With Singapore as our primary place of business, UTI International aims to help global investors in accessing Indian equities, fixed income and private equity opportunities. These opportunities can be availed in multiple ways via Mutual Funds, Managed Accounts, Sub-Advisory and White Labelling arrangements. We also provide investors access to our domestic funds in India, through Master-Feeder arrangement. While the Research & Analysis is mostly conducted at our head office in Mumbai, we have an Investment Management team as well as a product structuring unit in Singapore.

UTI started with humble beginnings. Created in 1964 by an Act of the Indian Parliament, UTI (or Unit Trust of India as it was known earlier) has a rich history of helping many generations of Indians plan their financial futures. By spawning Banks, Stock Exchanges and Depositories, it has also been instrumental in the development of the country’s Capital Market infrastructure.

For media enquiries, please contact: 
George Allen
Instinctif Partners
Tel: +971 5660 96749
Email: George.Allen@instinctif.com  

© Press Release 2016