Mena debt markets performed strongly and consistently in 2012 and will continue to favour the investor next year, according to Mohieddine Kronfol of Franklin Templeton.
Kronfol, who is Chief Investment Officer (Global Sukuk and Mena Fixed Income) at the firm, said that Mena debt had performed particularly well in the second half of 2012, against the backdrop of problems in the Eurozone and a slowdown in China.
“In 2012, performance of Mena debt markets, particularly the GCC, was strong and consistent throughout the year,” wrote Kronfol in a report to investors. “Returns for GCC debt of 11.62%, measured by the Citi MENA Broad Bond Index GCC, are on track to become the strongest since 2009. Regional debt and Sukuk markets have also delivered competitive risk-adjusted returns when compared to global fixed income sovereign and credit indexes, namely the Citi World Government Bond and Barclays Capital Global Aggregate Indexes.
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