Mashreq MATF maintains 'AA' rating by Standard's & Poor
02 March 2009
Dubai, United Arab Emirates, 02 March 2009: Standard and Poor (S&P), a global leader in providing fund ratings, has reaffirmed its ‘AA’ very high quality rating of the Mashreq’s Makaseb Arab Tigers Fund (MATF) for the second consecutive year. Standard and Poor’s assessment report highlights the funds’ “well defined investment approach” and “clear commitment to transparency and best practices” for maintaining its “AA” rating of the fund.
The reaffirmation of ‘AA’ rating reflects our extensive investment experience in difficult markets and solid track record. Our focus and priority remains dedicated to ensuring investor confidence during these turbulent times,” stated Ibrahim Masood, Director & Senior Investments Officer, Mashreq Asset Management. “Now more than ever, it is vital for companies to adopt stringent investment policies, and a risk management framework to protect the investors.”
Early last year, in an effort to bring international standards to the regional industry, Mashreq moved the MATF fund to Daily Dealing from twice weekly Dealing. The move highlighted the firms’ on-going commitment to provide its investors with greater flexibility and convenience in managing their investments during these volatile times.
“The MENA region remains a dynamic market to operate in with attractive valuations and we believe that year 2009 will be a period of recovery. Regional policy makers are implementing positive impact policies which would ensure that local economies do not experience a severe contraction”, concluded Masood.