NBAD launches new fund with African and Asian equities

Dubai: The National Bank of Abu Dhabi (NBAD) said on Sunday it has launched the West-East Corridor (WEC) Africa & Asia Frontier Market Fund that will offer investors attractive returns by investing in diversified portfolio of Africa and Asia market equities.

The Fund invests in liquid large and mid-cap company stocks in select Frontier Markets, excluding GCC. The Fund will invest in bourses of Kenya, Tunisia, Mauritius, Morocco, Nigeria, Bangladesh, Lebanon, Jordan, Vietnam, Pakistan and Sri Lanka.

NBAD’s Global Asset Management manages assets in excess of Dh10 billion, making it one of the largest in the UAE.