The goal is to generate medium to long term capital appreciation and to maximize total return relative to the TASI index.
Dubai’s Dalma Capital is launching of Quencia Saudi Equity Open Ended PC, it is the first DIFC-domiciled fund that focuses on investing in the Saudi Stock Exchange and is better known as Tadawul.
The goal is to generate medium to long term capital appreciation and to maximize total return relative to the TASI index.
Dalma said, “the fund’s seed capital of SR100 million ($26.6 million) is a reflection of "investors’ confidence in the fund’s team and structure.”
It is managed by a team with more than 25 years of collective Saudi market experience led by Majed Kabbara, a portfolio manager who said, “We are pleased to be launching the DIFC’s first Saudi equity fund. The launch is coming at a very interesting time for the Saudi market as the country is witnessing a major economic and social transformation and its market is being upgraded to Emerging Market status by the top global index providers.”
"We believe the upgrade offers eligible investors a unique short-term investment opportunity while the transformation as part of the country’s Vision 2030 provides an attractive medium to long term opportunity.”
CEO, Dalma Capital, Zachary Cefaratti, added, “We are well positioned to capture the one-off opportunity presented by the largest remaining market to achieve EM index inclusion, which may result in around $50 billion of foreign inflows into Saudi equities."
