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Al Mal UAE Equity Fund lists on DFM

DUBAI — Al Mal Capital PSC, the UAE Investment Bank, announced the listing of its UAE market mutual fund, the Al Mal UAE Equity Fund, on the Dubai Financial Market under trading symbol AMC UAE.

The fund was launched in April 2006 at an initial offering price per unit of Dh1.00. Since that time, the fund has outperformed the benchmark MSCI UAE Index by a margin of 35 per cent.

Year to date, the fund is up in excess of 30 per cent, versus the benchmark MSCI Index's return of 14.8 per cent.

Al Mal Capital, as fund manager, is responsible for the overall risk management, administration and coordination of the management of the fund, working closely with the fund's key adviser Adel Al Hosani. The fund's advisory committee, comprised of prominent UAE market experts and Al Mal executives, provide regular feedback and insight into local and regional opportunities.

"The listing of the fund will provide additional transparency and flexibility for existing investors, as well as visibility and an alternative for new market participants," indicated Blair Look, Managing Director of Asset Management at Al Mal Capital.