ING Investment Management has unveiled its first equities fund for the Mena region, a report said.

The ING (L) Invest Middle East and North Africa Fund  is an open-ended fund with daily liquidity, which means an investor can subscribe and enter the fund on a daily basis, according to the Gulf News report.

Though it was supposed to come in September, it was postponed, following falling markets and the global financial crisis.

'The fund will invest in 12 equity markets of the Middle East. We still believe very strongly in the fundamental growth of these economies,' said Farah Foustok, chief investment officer, ING Investment Management Middle East.

'Since we are long-term investors, we are entering at levels much lower than three months ago.'