ASI sharpens emerging market debt focus in Middle East, enhances its on-the-ground expertise

Aberdeen Standard Investments (ASI) is expanding and strengthening its capabilities in Emerging Markets Debt (EMD) in the Middle East, with a mix of initiatives ranging from multi-channel, multi-media marketing to new arrivals in its Abu Dhabi office.

Globally, the firm manages around US$15 billion in EM bonds, of which over US$2 billion is invested in dedicated EM corporate bond portfolios.

The brighter spotlight on the Middle East is intended to leverage this track record, as well as extend ASI’s global footprint in the region’s exciting and growing bond markets.

“The Middle East is a key market for Aberdeen Standard Investment and increasing our local focus on EMD is an affirmation of our investment style, wherein we like to be close to the corporate and sovereign issuers we invest in,” says Edris Alrafi, Head of Middle East & Africa at ASI.

“We believe there is no substitute or shortcut to conducting comprehensive bottom-up research and analysis to identify attractive new investments and to closely monitor our portfolios. The Middle East region has been a key component of EMD portfolios,” he adds.

Out of an overall emerging market corporate bond market of around US$2 trillion size, the Middle East makes up US$79 billion. The asset class is larger than US High Yield (US$1.5 trillion) and hard currency EM sovereigns (US$1.1 trillion).

A coordinated campaign will reinforce the message that ASI is bolstering its EMD expertise with a greater commitment to the Middle East. This will be visible across planned activities that include content, PR, digital, social media and print advertising, as well as an outdoors promotion at Abu Dhabi international airport.

To help deliver on the firm’s EMD intentions, Kathy Collins, Investment Manager, Emerging Market Debt has relocated from London to Abu Dhabi. Further, Peter Dunbar, Director of Business Development, and Nouf Alsagar, Manager, Business Development have also joined the team in Abu Dhabi to reinforce the local presence.

Collins focuses on corporate bonds within ASI’s 51-strong EMD team. The flagship fund she helps to manage is the US$723 million Aberdeen Standard SICAV I – Emerging Markets Corporate Bond Fund, which is top quartile over one, three, and five years and since launch in December 2010 (to 31 August 2019).

Her presence in Abu Dhabi will support the overall team’s efforts in engaging with local issuers. “The GCC region is starting to diversify away from traditional sectors such as Oil & Gas. We are seeing debt issuance from a wider range of companies which include well-known consumer brands, healthcare and telecoms,” she explains.

The relocation of Collins follows ASI’s recent hiring and relocation of investment professionals in Shanghai with an intention to further broaden the team. All of this will add more weight to the EMD ambitions out of the Middle East.

“We believe those new locations, together with our large existing presence in Asia – from where our team also covers a number of Middle Eastern countries and companies – will help us remain close to government and corporate issuers in the GCC region,” adds Brett Diment, Head of Global Emerging Market Debt at ASI.

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For further information please contact:
James Thorneley, Global Head of Media Relations Tel: 020 7463 6323 james.thorneley@aberdeenstandard.com
Nigel Sillitoe
CEO, Insight Discovery
sillitoe@insight-discovery.com
Mob: +97155 880 9676

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Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments, and is a registered Trading Name for Aberdeen Asset Middle East Limited. Aberdeen Asset Middle East Limited (“AAME”) registered in the Abu Dhabi Global Market ("ADGM") (Registered No. 000000252) is regulated by the ADGM Financial Services Regulatory Authority ("FSRA"). This is not investment research as defined by the FSRA. Related financial products are intended only for a ‘Market Counterparty’ or a ‘Professional Client’ as defined by the FSRA and therefore no other person should act upon it. The information is not intended to lead to the conclusion of a contract of any nature what so ever within the territory of the ADGM. The recipient of the information understands, acknowledges and agrees that the contents of this document have not been approved by the FSRA or any other regulatory body or authority in the United Arab Emirates. Nothing contained in this report is intended to constitute ‘Advising on Investments or Credit' or 'Arranging Deals in Investments’ as defined by the FSRA and is not intended to endorse or recommend a particular course of action. AAME does not warrant the accuracy, adequacy or completeness of the information and materials contained in this document and expressly disclaims liability for errors or omissions in such information and materials.  By accepting to receive this document, you represent that you are a’ Market Counterparty’ or a ‘Professional Client’ and you agree to be bound by the foregoing limitations. Information contained herein is provided for informational purposes only, is intended solely for your use and may not be quoted, circulated or otherwise referred to without our express consent.

© Press Release 2019