NCB Capital, the Saudi wealth manager, has established a non-Saudi registered range of funds on a UCITS platform registered in Ireland.

The firm is also launching the first two funds on this new platform - the NCB Capital Saudi Arabian Equity Fund and the NCB Capital GCC Equity Fund.

The objective of the two funds is to generate long-term capital growth by investing in listed companies in the Saudi Arabian and Gulf Co-operation Council markets, in line with Shariah guidelines.

NCB will use a mix of strategies covering mid-cap, blue chip, income-generating stocks and a diversified range of selected sectors seen as having solid growth credentials.

The two funds will be marketed internationally in conjunction with Amundi, the asset management joint venture of Société Générale and Crédit Agricole, with a focus on institutional investors in Europe and Asia.