Chairman's Message
"Our Asset Management arm came into effect early 2004, positioned to be a leading provider of regional solutions to both institutional and private investors. We voluntarily submitted our mutual funds to the most rigorous regulatory regime for Collective Investment Schemes in the region. The products are transparent and provide for the segregation of functions. Our business practices endeavor to achieve the highest fiduciary standards applicable to the Asset Management business globally.
We pioneered the launch of retail investment products in the UAE with modest initial investment requirements and a unique twice dealing cycle, both superior to any other local bank offering for such products. Recently, the Makaseb Emirates Equity Fund switched to daily dealing, encouraging other Investment Managers to follow suit, thus bringing international standards to the regional industry.
Business has grown exponentially over a very short period of time and our client base includes leading international and regional investors. We now want to accelerate this pace even further. With a business priority of enhancing sales and expanding our client base, we are focused on creating even better, more competitive product offerings to meet the requirements of our clients.
The regional Asset Management industry is in the midst of profound change, with growing investor interest. With increased liberalization and robust economic growth, GCC economies are amongst the fastest growing in the world, building on sustained high energy prices, fiscal stimulus, and a rapidly growing population. Moreover, the economies are actively pursing economic diversification thereby reducing their dependence on the energy sector which provides a solid foundation for a healthy and prolonged earnings growth in the coming years.
With several new endeavors in the pipeline for 2008, we are committed to provide our clients with attractive investment opportunities and deliver the best of practices"