Gulf International Bank UK, the London-based subsidiary of Bahrain’s Gulf International Bank (GIB), has launched a $100m Emerging Markets Opportunities Fund.
The fund will invest across emerging markets and focus on fixed income credit while also providing equity and currency enhancement. It will take both long and short positions and seeks to generate returns through identifying undervalued opportunities in emerging markets.
“This has been launched in response to an increased investor focus on the world’s developing economies,” says Yahya Alyahya, GIB’s chief executive. “This fund allows investors to capitalise on the long-term structural changes taking place to the global hierarchy.”
The fund will be denominated in US dollars, but may also take positions in foreign currencies. In order to cater to the liquidity demands of investors, the fund will provide monthly liquidity with no initial lock up period.
With a focus on asset management and investment banking, GIB UK currently manages around US$15bn in total client assets and has prior experience of investing in emerging markets.
The fund’s prime broker is Switzerland’s Credit Suisse and the administrator is US-headquartered financial services company Citco.
GIB is owned by the six GCC governments, with Saudi Arabia’s Public Investment Fund (PIF) holding a majority stake of 97.2 per cent.