Jeddah-based investment firm Sedco Capital aims to expand its range of Islamic funds to more than 15 by year-end, a sign of improving financial market sentiment and changing investor attitudes in Saudi Arabia.
The plan adds momentum to the Gulf’s Islamic funds industry, which has been hurt by the global financial crisis but is now attracting regional firms such as Qatar’s QInvest, which aims to launch 30 funds.
Sedco Capital, a fully owned subsidiary of Sedco Holding, intends to raise assets under management on its Luxembourg fund platform to $1.6 billion by year-end from $1 billion now, said chief executive Hasan Aljabri.
Read more: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20130404159800
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