ENBD’s Saudi equity fund records 18% returns

Dubai

Emirates NBD Asset Management said that its Saudi Arabia equity fund recorded a year-to-date return of more than 18 per cent, and grew to a size of over $30 million since its launch in December 2017.

The fund was established to tap into renewed investor interest in the Saudi market, which was added to the FTSE Russell’s Emerging Market Index in late March, a development that is likely to attract around $5 billion from global investors in the next 12 months, the bank said.