Dubai: Bank Sarasin's Dubai-based asset management firm on Monday launched an equity fund worth $100 million (Dh367 million) to target Gulf Arab bourses which it believes are undervalued.
Sarasin-Alpen & Partners said it aimed to raise an initial $100 million in the first quarter of 2009 from both international and regional investors, which it would invest in the markets of the six-member Gulf Cooperation Council (GCC).
"The economic outlook, government finance and regional stability in the GCC are much better than in the developed world and than in some of the other emerging markets," said Paul Cooper, senior executive officer at Sarasin-Alpen & Partners.
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