Royal Capital Management Ltd., the best-performing major fixed-income fund in the Persian Gulf region, is building up “a cash cushion” to invest in upcoming bond issues.
“The pipeline is strong which will put some pressure on the bond market so we prefer to have some cash and profit from any opportunity,”said Ahmed Talhaoui, head of asset management at Abu Dhabi-based Royal Capital.
Bond issues from the Middle East and North Africa may beat last year’s $40 billion as borrowing requirements rise, according to Salman Al Khalifa, Deutsche Bank AG (DBK)’s regional head of markets. Dolphin Energy Ltd., the Abu Dhabi government- controlled venture transporting natural gas, hired banks to arrange investor meetings for a potential sale and Majid Al Futtaim Holding LLC, a shopping mall owner, is holding talks with investors for a planned sale.
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