Sun 20 July 2008, Financial Times

New funds: July 21

● Baring Asset Management is launching a Middle East and North Africa fund, subject to regulatory approval. It aims to provide long-term capital growth by investing primarily in Mena countries and will be managed by Ghadir Abu Leil-Cooper, who heads the emerging Europe, Middle East and Africa equities team.  ● Another North Africa fund is being unveiled by Julius Baer in the UK, following its offshore launch last September. The fund, which has $170m under management, has its biggest holdings in Egyptian and Moroccan stocks.  ● M&G has rolled out the Global Dividend Fund, an equity income fund for UK investors that focuses on global listed companies. It has a total return aim that combines income and capital growth to outperform the FTSE World Index.  ● Kit Fortis Investments , the joint venture of Russian investment bank Kit Finance and Fortis Investments, has brought out its first Russian equity fund for Japanese retail clients in partnership with Sumitomo Mitsui Asset Management and a distribution partner, Toyo Securities. The fund seeks to outperform the MSCI Russia 10/40 Index and, since launch on June 30, has raised $40m.  ● Skandia Investment Group has unveiled the Global Emerging Markets Equity MultiManager fund in Sweden, following the UK launch of the fund last August. Assets under management had grown to £30.4m at the end of May.  ● Credit Suisse has set up a Luxembourg-domiciled global property Sicav fund led by a 14-strong real estate team in the US, Europe, Asia and Australia.  ● Dow Jones Indexes has rolled out the Dow Jones GCC Titans 40 Index, as part of its family of GCC indices. It measures the performance of 40 component stocks traded in five of the six Gulf Cooperation Council member states: Bahrain, Kuwait, Oman, Qatar and United Arab Emirates. The index has been licensed to Van Eck Global to serve as the basis for an exchange traded fund.

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