London's MENA Capital and Dubai's Al Mal agree collaboration deal | ZAWYA MENA Edition:
A tie-up between a London-based investment manager and Dubai's Al Mal Capital will see the former's managing partner, Khaled Abdel Majeed, move to Dubai and manage an enlarged team responsible for the investment strategy of a series of funds owned by both organisations.
MENA Capital said in a press release issued on Monday that Al Mal Capital had appointed Abdel Majeed as its lead portfolio manager for all of its MENA equities products including the Al Mal UAE Equity Fund launched in April 2006 and a new AZ Al Mal MENA Equities UCITS Fund, due to be launched early next year alongside Italian asset management firm Azimut.
In a telephone interview with Zawya on Wednesday, MENA Capital managing partner Roger Allen explained that Abdel Majeed, with whom he co-founded MENA Capital in 2004, would be directly employed by Al Mal Capital, but would also continue to run MENA Capital's own MENA Admiral hedge fund - a long-short fund launched in March 2006 - and the long-only MENA Alchemy Fund launched in August 2010.
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