Free Trial Corporate Access

Global Investor Magazine
Global Investor Magazine Copying and distributing are prohibited without permission of the publisher

Abdul Kadir Hussain, Mashreq Capital, interview

02 December 2013

Abdul Kadir Hussain, chief executive of Mashreq Capital, talks to Hardeep Dhillon about opportunities in the Middle East ahead of the launch of its first sharia-compliant equity fund

Read more: Abdul Kadir Hussain Mashreq Capital sharia

Mashreq Capital is looking to take advantage of buoyant Middle Eastern equity markets by offering its first sharia-compliant equity fund, which is scheduled for launch in January 2014 and will invest in high-dividend equity strategies.

The new launch will help grow the asset management business to over $1bn of assets under management (AuM), which at present are $950m, according to Mashreq, with roughly two-thirds in fixed income and a third in equity. AuMs have rocketed this year.

The asset manager signed a mandate with its mother company Mashreq Bank to manage a $500m portfolio at the start of the year and followed this up with new mandates of $10m-$15m each with institutions in Oman and the United Arab Emirates.

Mashreq is expected to raise between $75m and $100m and itself invest $20m of seed capital into what will be its fourth fund.
Chief executive Abdul Kadir Hussain says: "It is...