NAHO launches $50m MENA MAC Fund

Naeem Holding (NAHO) intends to launch its mutual fund, the MENA MAC, with a capital of $50 million by the end of the coming March.

Hazem Kamel, the Managing Director, has said that the NAHO has done their negotiations on the time of launching the MENA MAC, an offshore mutual fund in Bahrain, aiming at achieving substantial returns after the entire Arab region had gone through political events during 2011affected on their economies.

He added that the fund is going to invest in the Middle East (MENA) markets trading in stocks as well as bonds and commodities particularly in gold, silver and oil. He mentioned that the fund’s main objective is achieving substantial returns from the region’s varied sources of investments in their markets.