Azimut Group, an independent and global group in the asset management, wealth management, investment banking and fintech space, has deepened its Middle East footprint with a fixed income fund aiming to tap into growth potential of debt capital markets across the Middle East and North Africa.
Launched in October 2024, managed by Azimut’s DIFC based team, the MENA Fixed Income UCITS Fund aims to offer regional and global investors a diversified portfolio of fixed and floating rate fixed income securities, issued by sovereigns, government-related entities and/or corporates based in MENA countries.
Charles Feghali (pictured), the fund’s lead portfolio manager, said: “Maintaining credit diversification will be a key pillar of our investment strategy while simultaneously generating superior risk-adjusted returns.”
The portfolio aims to maintain an investment grade average credit rating, balancing yield potential with credit quality, added Feghali. The average portfolio duration as of October 2024 was 5.2.
Azimut already has significant investment experience in the region, managing almost $2bn in MENA assets.
Maroun Jalkh, head of institutional and wholesale, Middle East & Asia, added: “Successfully raising assets of over USD 45 million in this strategy, we are delighted to further expand our capabilities for investors looking for medium and long-term capital growth by accessing the growth opportunity that the MENA region offers.”