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Alternative Market Briefing

Ethical value investing fund plans on becoming more active

Wednesday, July 09, 2014

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Abdulaziz A. Alnaim
Benedicte Gravrand, Opalesque Geneva for New Managers:

The manager of a three-year old ethical value investing fund talks about the types of companies he searches, economic moat, value strategies and his activism plans.

Abdulaziz A. Alnaim, 
President and Fund Manager at
 Mayar Capital Management, a $21m Cayman-registered asset manager with offices in Al-Khobar, Saudi Arabia, recently talked to Opalesque about the Mayar Fund.

This $11m fund, according to separate documents, is up 14.6% YTD (to end-May), compared to the MSCI World index’s 21.87%. It has annualized 12.4% since inception in mid-May 2011 (compared to the MSCI index at 10.9%), accumulating 46% (MSCI 37%).

The fund mainly invests in equities globally ands seeks to achieve its objective over the long term (defined as a minimum of five years) by applying a disciplined value investing strategy to the selection of securities. It only invests in securities that comply with Islamic ethical standards, aka the Sharia standards.

The managers at Mayar try to identify the types of companies that they want to own before deciding whether the prices are attractive, he explains. And the most important thing they look for is an economic moat; "some sort of barrier to entry that keeps competitors away and gives the business the ability to earn superior economic retur......................

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