West Palm Beach (HedgeCo.net) – Hedge fund manager, Majid Al Futtaim Asset Management, is launching its first Middle East and North Africa (MENA) equity fund, the Luxembourg domiciled ‘Elite MENA Equity Fund’.

Investors can invest alongside the family office of Majid Al Futtaim and gain access to the services of the portfolio management team responsible for the MENA equity investments. The Majid Al Futtaim family office has seeded the fund with Dh550 million ($150 million), making it one of the largest MENA equity funds available to investors.

"Investors deserve to have the best home for their money in both turbulent and stable investment environments." Iyad Malas, Chief Executive, Majid Al Futtaim Asset Management, said, "By opening the doors to the services of the portfolio management team responsible for Majid Al Futtaim’s family office, we offer investors a tried and tested place to invest. The Elite MENA Equity Fund offers investors an opportunity to invest with a team whose performance speaks for itself."

The new ‘long-only’ open-ended fund aims to achieve long-term asset growth and capital preservation through a ‘Risk-Managed Growth’ approach to MENA investments.