New Products
US Banking Giant Launches First Foreign Mutual Fund In UAE
The fund range includes equity, fixed income, multi-asset and alternative investment solutions.
Goldman
Sachs Asset Management has launched what it claims
is the first range of foreign mutual funds in the United
Arab Emirates.
The Emirates Securities and Commodities Authority has authorised,
for the first time, asset managers to register foreign mutual
funds for distribution, the bank said in a statement.
The fund range includes equity, fixed income, multi-asset and
alternative investment solutions.
GSAM, which has operated in the UAE for more than 10 years, has
built a presence in the Middle East focusing on
institutional investors and select private banks.
“The global market volatility and low yield environment
underscores the need for established and innovative investment
solutions that deliver diversified sources of income and rigorous
risk management”, said Oliver Rahe, head of third party
distribution for Middle East and Africa. “We are delighted by the
approval from the regulator to allow foreign asset managers to
register foreign funds and we look forward to meeting the needs
of retail investors in the UAE through our range of products."
