Gulf International Bank (UK) has launched an Emerging Markets Opportunities Fund with assets of more than USD100m.
The fund is a multi-strategy, absolute return product, investing across emerging markets.
The strategy focuses on fixed income credit while also providing equity and currency enhancement.
The fund takes both long and short positions and aims to generate consistent returns regardless of underlying market conditions. Returns are generated through identifying undervalued opportunities in emerging markets.
The fund will be denominated in US dollars but may take positions in emerging market currencies.
The fund will provide monthly liquidity with no initial lock up period.
The fund’s prime broker is Credit Suisse and the administrator is Citco.
Gulf International Bank is a merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council states. The bank is owned by the six GCC governments, with the Public Investment Fund of Saudi Arabia holding a majority stake (97.2 per cent). In addition to its London-based subsidiary, the bank has branches in London, New York, Riyadh and Jeddah, in addition to representative offices in Beirut and Abu Dhabi.
