Dubai, November 3, 2014: EIIB-Rasmala (‘the Group’), a leading specialist asset management and financing group focused on the growth markets of the Gulf Cooperation Council (GCC), has announced a series of new business and strategic initiatives for 2015.
Following on from the launch of a series of new and innovative funds during 2014, including the Rasmala Leasing Fund and Rasmala Trade Finance Fund, EIIB-Rasmala plans to further expand its leasing and real estate funds management businesses in 2015. The Group is currently finalizing the launch of two new leasing fund strategies and will also expand its UAE real estate business. The launch of these new funds, driven by growing investor demand for more innovative investment management solutions, will offer an even broader investment choice to both existing and new clients. The Group expects to raise approximately $1bn for its growing leasing and alternatives business and approximately $250m to invest in a broad mix of real estate transactions in the UK.
The Group is looking to take advantage of the increasingly positive industry and market dynamics across the broader Middle East and North Africa region. 2014 has seen a surge of international investor interest in both the GCC and the wider region. This growing demand is due to a combination of progressive regulatory activity, particularly in markets such as Saudi Arabia and the UAE, as well as greater investor confidence in the underlying market fundamentals of the region. The MSCI upgrade of the UAE and Qatar to emerging market status has also been seen as a positive development.
In Egypt, EIIB-Rasmala is seeking to increase its shareholding in its subsidiary, Rasmala Egypt Asset Management S.A.E. As the economic and political situation in Egypt stabilizes, the Egyptian asset management market has become an attractive sector that is primed for further growth, as well as the further attention of international investors. In Saudi Arabia, the recent announcement by the Capital Market Authority (CMA) to open up the equity market to greater foreign ownership is expected to result in significantly increased investment flows into one of the region’s largest, most mature and liquid share markets. EIIB-Rasmala is well positioned, both financially and strategically, to take full advantage of the expected growth of these two large regional markets and is currently considering a number of opportunities to bolster both its presence and distribution reach through new, strategic joint ventures.
Zak Hydari, Chief Executive at EIIB-Rasmala, said: “We have successfully completed the transformation of EIIB-Rasmala and consolidated our position as one of the most innovative regional asset managers. In 2014 we saw a higher level of investor demand for broader, more alternative investment products, as well as greater overseas investor interest in our key markets. Given this demand, we are now accelerating the expansion of core strategies and product offerings and we are actively investing in order to stay at the forefront of the regional industry.”
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EIIB-Rasmala (‘The Group’) is a London-listed asset management and financing group specialized in the growth markets of the Gulf Cooperation Council (GCC). The Group operates regulated businesses across the GCC and the wider Middle East and North Africa (‘MENA’) region offering investment management and financing solutions to pension funds, family offices, corporations and financial and government institutions.
The Group is listed in London on the Alternative Investment Market (AIM) of the London Stock Exchange. EIIB-Rasmala employs approximately 100 staff in London, Dubai, Muscat and Cairo.