Emerging markets fund managers insist there are still opportunities to be found in the Middle East and North Africa (MENA), particularly in Egypt and Saudi Arabia, despite assets in specialist funds focused on the region falling to less than a third of their 2014 peak.
Just €295m in assets under management (AUM) remained in seven MENA-focused funds registered for sale in the UK as of March 2018, falling from €493m in 2017 and a high of €928m across ten funds in 2014, according to data provider Lipper. Co-head of BMO Global Asset Management's multi-manager team Gary Potter explained the funds gained popularity in the aftermath of the financial crisis and groups flocked to launch funds specific to the region, as investors sought to diversify their portfolios away from troubled developed markets. He said: "MENA and frontier funds were seen as the Hol...
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