MAF Asset Management trims fund size

Habib Oueijan, Managing Director and Head of Mena Investments at Dubai-based Majid Al Futtaim Asset Management, has said that tight liquidity and tougher market conditions has led the firm to reduce the capacity of its Elite Mena Equity Fund from its target of $1.5bn-$2bn to $1bn, Emirates Business has reported. 'We will have a clearer picture about funds by the middle of this year,' Oueijan said, adding that the industry may not see any significant new fund launches this year.