Invest AD, the Abu Dhabi Government-owned investment company, is joining with a Hong Kong financial company to offer east Asian investors access to Middle East stocks.
Invest AD will pick regional stocks for the clients of Quam who are based in Taiwan and Hong Kong.
"Middle East markets are outperforming global markets this year, but they still have much further to go to catch up with the rebound that most emerging markets experienced last year," said Mohammed al Hashemi, the head of asset management at Invest AD.
Quam said the partnership would help its clients diversify their portfolios with Middle East stocks. It is planning to launch a fund comprising Middle Eastern companies from various sectors within weeks, it said.
"Investors in Asia are looking for diversification, especially now, when key western and Asian markets have had a good run and look fully valued. There are many opportunities materialising in the Middle East across different sectors," said Bernard Pouliot, the chairman of Quam.
In the first four months of this year, Middle East markets have outperformed most of the world. The MSCI Arabian Markets Index has risen 15.1 per cent from the end of last year compared with a 3.6 per cent increase in the MSCI Emerging Markets Index and a gain of 3.3 per cent for the MSCI World Index.
But within the Middle East, the Gulf markets have lagged. The Dubai Financial Market General Index has lost about 13 per cent from a year earlier, while the major stock benchmarks in Abu Dhabi, Saudi Arabia, Kuwait and Qatar have each shed between 3 per cent and 6 per cent of their value this year.
Invest AD manages four of its own equities funds invested in the Middle East and Africa. And like this new deal with Quam, it also advises the German private bank BHF Bank on selecting stocks.
Invest AD handles stock and private-equity investments for third parties and also acts as a proprietary investor for the government.
Earlier this year, Invest AD disbanded its 18-month foray into investment banking and cancelled plans to offer a new property fund to outside investors. This followed earlier reports that the company had shut down an infrastructure fund set up as a joint venture with UBS's asset management division in 2008. That fund was to raise US$600 million (Dh2.2 billion) to invest in infrastructure projects in the MENA region.
Many financial companies have been forced to adjust to waning investor appetite, reduced bank financing and declining stock and property prices.
In addition to managing funds, Quam also offers services ranging from wealth management to investor relations. It also has offices in China and a network of affiliated partners in locations ranging from Japan to Africa and the US.
uharnischfeger@thenational.ae
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
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Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
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england euro squad
Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)
Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)
Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)
Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)