Wednesday, May 16, 2012
(This story was originally published Tuesday.)
DUBAI (Zawya Dow Jones)--Gulf-based Asiya Investments has set up an advisory arm in Dubai's financial centre and will soon launch operations in Hong Kong in a bid to create an asset management business looking to cash in on the growing flow of trade between the Middle East and Asia.
The group, first established in 2005 as a pure investment firm with $300 million of capital, said Arab investors remain underinvested in Asia and overexposed to markets in the West.
"We firmly believe that this is the Asian Century and that Arab investors, who today have more than 85% of their foreign portfolios allocated to mature markets, must rebalance in line with an economic power shift to the East, which will only become more pronounced in the years and decades ahead," said Mohab Mufti, chief executive of Asiya's Dubai operations on Tuesday.
Asiya said it would focus on investing into sectors such as energy, financial services, real estate, consumer products and infrastructure.
Asiya is a subsidiary of KCIC (KCIC.KW), a Kuwait-listed investment company, which itself is being renamed Asiya Investments. The company is reaching out to investors to consider Asian investment opportunities. Asiya also offers public and private equity, real estate and Sharia compliant services. Its Dubai arm provides research and advisory on acquisitions and joint ventures between Middle East and Asian companies.
Asiya's Mufti said the firm targets sovereign funds, regional financial institutions and family investment offices.
-By Nicolas Parasie, Dow Jones Newswires, +9714 446 1681, nicolas.parasie@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
16-05-12 0350GMT
