With the incorporation of its first DIFC funds company, MCF Series I, Mashreq Capital is launching a specialist emerging market debt fund, following approval from the Dubai Financial Services Authority (DFSA). Known as the Emerging Market Credit Opportunities (EMCO) fund, it is the first specialist fixed income hedge fund at the DIFC and was developed entirely within the DFSA’s Collective Investment Law framework.
“The DIFC’s fund community continues to grow at a rapid pace, thanks to the DIFC’s unique position as a bespoke domicile for funds and asset managers,” says Omar Bin Sulaiman, the Governor of the DIFC. “Mashreq Capital’s launch of MCF Series I is a positive step in the development of the region’s growing funds industry”.
“The Emerging Markets fund provides a unique investment vehicle for investors in the region,” adds Abdul Aziz Al Ghurair, the CEO of Mashreq Bank. “In addition to providing exposure to some of the fastest growing economies in the world, it will also take advantage of a stable global interest rate environment”.