Saudi Arabia’s SEDCO Capital has received a mandate from Milltrust International to oversee a new UCITS Middle East and North Africa (MENA) fund.
The Milltrust SEDCO MENA Fund targets long-term returns for international institutional investors.
The fund invests in companies in the MENA region through a portfolio of equity securities under the UCITS IV framework, as well as will offer daily liquidity.
Sedco, in collaboration with Milltrust, is the first Saudi asset manager to secure a mandate to manage MENA & Saudi equities under the UCITS framework.
Milltrust International Group CEO Simon Hopkins said: “The launch of this fund broadens our offering to clients, providing access to a portfolio with dedicated MENA equities exposure, and complements our award-winning GEMS investment solutions. We believe this partnership will create compelling investment opportunities across an extremely diversified and dynamic stock market universe."
SEDCO Capital CEO Hasan Al-Jabri added: "We are delighted to announce the launch of the Milltrust SEDCO MENA Fund in partnership with Milltrust International. We are pleased that our successful track record in managing MENA equity portfolios was able to attract a key partner such as Miltrust and we look forward to deepening our cooperation with them in the future."