Majid Al Futtaim sets up asset management unit

The Majid Al Futtaim Group yesterday said it had set up asset management unit to offer financial management services to institutional and professional investors.

The new entity enables external investors to benefit from the collective experience of a fund management team with years of investment performance through the Majid Al Futtaim family office. "For the first time, professional and institutional investors looking for new investment opportunities in both challenging and favourable climates will be able to capitalise on the expertise of Majid Al Futtaim Asset Management's team of fund managers, who have been tried and tested by one of the region's most demanding family business groups," said Iyad Malas, the Chief Executive of Majid Al Futtaim Asset Management.

"This new financial management organisation builds upon the reputation of one of the region's preeminent family offices, whose fund managers have delivered a strong relative performance," he added.