31 October 2007
AMMAN (JT) - Awraq Investments launched on Tuesday its flagship fund, the Awraq Fund during a ceremony attended by a large number of bankers, investment professionals and businessmen. The Awraq Fund will not be targeting Middle East and North Africa markets only, but also introduce two new flavours to Arab investors: Turkey and India. Chairman Khaled Masri welcomed the guests and CEO Waleed Nassan highlighted the position, objectives and various services of Awraq Investments.
Turkish and Indian fund managers; Garanti Asset Management and Birla Sun Life presented the economy and above average return opportunities in their respective securities markets. Awraq Investments will invest up to 80 per cent of its assets in fixed income securities in case of unfavourable equity market conditions. The fund, a Bahrain domiciled, USD-based and an open-ended legal entity, is approved by the Central Bank of Bahrain and authorised by the Jordan Securities Commission, whereby Gulf Clearing Company will be the administrator, custodian, and registrar counterparty. Ernest and Young, in Bahrain, will be the fund's auditors. Cairo Amman Bank is seeding the fund with $5,000,000. The fund will open to public investors on May 1,2008.
AMMAN (JT) - Awraq Investments launched on Tuesday its flagship fund, the Awraq Fund during a ceremony attended by a large number of bankers, investment professionals and businessmen. The Awraq Fund will not be targeting Middle East and North Africa markets only, but also introduce two new flavours to Arab investors: Turkey and India. Chairman Khaled Masri welcomed the guests and CEO Waleed Nassan highlighted the position, objectives and various services of Awraq Investments.
Turkish and Indian fund managers; Garanti Asset Management and Birla Sun Life presented the economy and above average return opportunities in their respective securities markets. Awraq Investments will invest up to 80 per cent of its assets in fixed income securities in case of unfavourable equity market conditions. The fund, a Bahrain domiciled, USD-based and an open-ended legal entity, is approved by the Central Bank of Bahrain and authorised by the Jordan Securities Commission, whereby Gulf Clearing Company will be the administrator, custodian, and registrar counterparty. Ernest and Young, in Bahrain, will be the fund's auditors. Cairo Amman Bank is seeding the fund with $5,000,000. The fund will open to public investors on May 1,2008.
© Jordan Times 2007
