Asset Management
Milltrust Appoints Saudi Arabia-Based Firm To Run MENA Investment
The Singapore/London-based firm has hired a firm based out of Saudi Arabia to manage a portfolio of MENA investments.
Milltrust International, the emerging markets-focused asset
manager, has awarded a mandate to SEDCO Capital, the investment
house based in Saudi Arabia.
SEDCO Capital will manage a Middle East and North Africa fund
that aims to chalk up long-term returns through a mixture of
equities. It will be held in a UCITS structure with daily
liquidity.
In partnership with Milltrust, SEDCO Capital is the first
Saudi-based asset management firm to be awarded a mandate to
manage MENA and Saudi equities under a UCITS platform, Milltrust
said in a statement.
Saudi Arabia is seeking to open its doors to international
investment, eventually helping to get the country included into
the MSCI Emerging Market Index, and hence making it eligible for
a wider range of investors, Milltrust said.
Milltrust is regulated in the UK and Singapore.
