GIB’s emerging markets fund posts 6pc return
MANAMA, February 23, 2016
Gulf International Bank (GIB) said its Emerging Markets Opportunities Fund (EMOF) achieved a net return of 6.11 per cent last year.
The fund, which invests in the debt of emerging market economies, has managed another year of strong returns in a market beset by macro worries, said a statement.
Mark Watts, the chief executive officer of GIB UK, said: “We are delighted with the returns that the EM team continue to deliver to clients, it is a testament to their deep understanding of the markets that we are able to navigate difficult conditions and still manage a good positive performance for our clients.”
EMOF is a Cayman domiciled EM debt hedge fund established in August 2010 and has achieved an annualised return since inception to the end of December last year of 7.31 per cent, said the statement.
It invests primarily in the debt of Emerging Market economies in hard currencies such as the US Dollar, it added. - TradeArabia News Service
