Global Arab Network | S&P Assigns AA Rating to ING (L) Invest Middle East & North Africa Fund

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S&P Assigns AA Rating to ING (L) Invest Middle East & North Africa Fund

Global Arab Network - - Rabih Serrai

Monday, 18 January 2010 12:07

ING_L_Invest_Middle_East__North_Africa_fund

Standard & Poor’s Fund Services announced today that it has assigned a AA (New) fund management rating to the ING (L) Invest Middle East & North Africa fund.

Launched in December 2008, the fund is primarily aimed at international investors seeking exposure to Middle East and North African equities. It has an extremely strong track record compared to benchmark and peers, having outpaced its benchmark by nearly 15% since inception.

Based in Dubai, the fund is run by lead manager, Fadi Al Said, and Yazan Abdeen, both of whom have good levels of experience in the region and have a strong record of outperformance.

“The fund managers’ approach is pragmatic. Quantitative and qualitative assessment of companies is complemented by a high level of market awareness and an ability to rapidly reshape the portfolio when necessary. The AA fund management rating recognises the strong performance, the high standards associated with the Sicav status and the experience of the managers,” said S&P Fund Services lead analyst, Roberto Demartini.

“This positive rating from S&P Fund Services comes as recognition of the MENA fund’s consistently impressive performance and underlines the strength of the investment management team, who have a strong record of outperformance in the region. The ‘AA’ rating reaffirms ING IM’s position as a leading investment management firm and highlights the depth of our knowledge and understanding of regional markets,” said Farah Foustok, CEO of ING IM Middle East.

Global Arab Network

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