Milltrust Appoints Saudi Arabia-Based Firm To Run MENA Investment

Tom Burroughes

14 June 2016

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.