Atlantic Financial Enlists Dubai's SHUAA Capital to Offer Managed Access
to Middle East Equities
Aim is to address under-allocation of Middle East market by
U.S. institutional investors Boston, MA - November 19, 2007:
Boston-based investment manager Atlantic Financial has arranged to draw on
the regional expertise of Dubai-based SHUAA Capital to provide U.S.
institutional investors with comprehensive, professionally-managed access to
the Middle East equity markets, particularly the
GCC (Gulf Cooperative
Council) markets which are the driving force behind the vast regional wealth
creation of the past seven years.
SHUAA Capital is among the foremost investment banks in the United Arab
Emirates and has managed Middle East equities since 1996. “We are very
pleased to be working with Atlantic Financial. A partner with a presence on
the ground in the U.S. remains a critical element in effectively serving the
needs of American institutional investors," said Haissam Arabi, Managing
Director of SHUAA Asset Management. "The platform established by Atlantic
Financial will give U.S. institutional investors a stake in more than 15
Middle Eastern stock exchanges representing economies with tremendous
potential.”
“The Middle East has one of the world’s fastest growing regions
economically. Places like Dubai are changing the face of global business,
yet the region is sometimes overlooked. We believe this creates opportunity
for investors, especially in the U.S.,” said Bruce Fenton, Managing Director
of Atlantic Financial. “We are excited to offer institutions access to the
market through a leading asset manager who is highly experienced in this
market and has a proven track record.”
The Gulf Cooperation Council comprises six oil-producing member states:
Saudi, Kuwait, Qatar, United Arab Emirates, Bahrain and Oman. In terms of
GDP and market capitalization, the Middle East is one of the world’s most
important regional economies. The area is also home to some of the earth’s
most ambitious development projects including the tallest tower in the world
and the construction of entire new cities, where petrodollars are being
deployed in an aggressive plan to develop the non-oil sectors.
Many Middle East countries have higher growth rates than the U.S. and
several have per capita incomes higher than many other developed countries.
The U.S. Department of Commerce indicates that GCC nations have a $500
billion annual trade surplus, comparing favorably to the $600 billion U.S.
trade deficit. Liquidity in the region has resulted in unprecedented
infrastructure investment. Projects include the world’s largest shopping
mall, largest port, largest amusement park, financial and media free zones,
man-made islands visible from space and other mega-developments.
Atlantic Financial believes the story of the region’s many positive
construction, economic and social achievements to be an under told story in
the US. “I think most Americans find it very interesting to hear something
that is overwhelmingly positive about the Middle East,” says Fenton. “I’m
not sure what is more amazing: the incredible positive developments in the
area or how little we tend to heard about them in the US.”
Emerging markets funds exist for US investors wishing to participate in
growth in Russia, Brazil and virtually every other market. Despite its size,
the Middle East is a historically under invested area by US investors. Shuaa
Capital has managed assets in the region with a local presence for several
years and has a solid performance record.
About SHUAA Capital PLC
SHUAA Capital is publicly traded on the Dubai Financial Market and the
Kuwait Stock Exchange. The company is known for its investment banking and
private equity activities, as well as its large asset management business
which focuses on publicly traded stocks through the Middle East region.
About Atlantic Financial Inc.
Atlantic Financial is based in Massachusetts and has served wealth
management and institutional investors since 1994, focusing on emerging
markets and global allocation of capital. Atlantic Financial offers
securities through Cantella & Co. Inc. a Boston broker-dealer founded in
1952. Cantella has a long history of emerging markets projects and was one
of the first U.S. firms to work with Japanese securities companies in the
1960s. Contacts:
Bruce Fenton
Managing Director, Atlantic Financial Inc.
781-982-4911
William Grady
Director of Client Services, Atlantic Financial Inc.
781-982-4911
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