|NCB Capital, Saudi Arabias largest wealth manager, has become the first local institution to establish a non-Saudi registered range of funds under the Undertakings for Collective Investment in Transferable Securities (UCITS) platform registered in Ireland. The firm is also launching the first two funds on this new platform - the NCB Capital Saudi Arabian Equity Fund and the NCB Capital GCC Equity Fund.
The objective of the two funds is to generate long-term capital growth by investing in listed companies in the Saudi Arabian and Gulf Co-operation Council (GCC) markets, in line with Shariah guidelines. NCB Capital will use a mix of strategies covering mid-cap, blue chip, income-generating stocks and a diversified range of selected sectors with solid growth credentials. All strategies will be in line with the UCITS regulations. (Press Release)