You are here: Home » Breaking News » Franklin Templeton launches ne...
Breaking News
Franklin Templeton launches new fund
18 Nov 2008
According to the firm, the fund will allow foreign direct investment in the region and will have Algebra Capital in the position of investment manager.
The long-term approach of the endeavour is to invest in the equity and fixed income securities of companies located in Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan and Morocco.
Joe Kawkabani, head of equity asset management, Algebra Capital, said: "The MENA region is expected to grow at a strong pace in the coming years due to the rise in massive infrastructure spending and the emergence of business sectors, such as logistics, banking, construction, petrochemicals and fertilizers."
He added that even if the price of oil drops, the government spending on utilities should not be deterred.
Franklin Templeton Investments acquired a 25 per cent stake in Algebra Capital in 2007.
Meanwhile, Algebra Capital recently launched the Sukuk Fund in collaboration with the Elaf Bank.
Login
Find A Company
Weekly Email News Round-up
Related news by topic
MGM Mirage resort to be constructed near Cairo
02 Jul 2009
Casino operator MGM Mirage has revealed that it will be entering a joint venture with a developer in...
MELA awards RAK FTZ 'Best Emerging Free Zone' for the third year
02 Jul 2009
Ras Al Khaimah, UAE - Ras Al Khaimah Free Trade Zone (RAK FTZ) has once again been recognised for i...
Source: Cityscape Intelligence
Investor confidence in Qatar 'better than the rest of GCC'
01 Jul 2009
Confidence among investors in June was higher in Qatar than any other Gulf Cooperation Council (GCC)...