Al Mal Capital, a subsidiary of Dubai Investments, has signed a partnership agreement with Azimut Group to jointly launch a Middle Eastern equity fund.

The fund will be established by AZ Fund Management S.A., Azimut Luxembourg fund management company within its UCITS umbrella fund. It will integrate the distinctive investment advisory capabilities of AMC with the Group’s global portfolio management team, comprising more than 100 professionals across its international network.

The strategic cooperation signed by the two companies also includes joint marketing initiatives to cater for the demand from the respective commercial franchises, access to Azimut’s existing range of investment capabilities for regional investors through AMC’s wealth management platform.

Naser Nabulsi, Vice Chairman and CEO of Al Mal Capital, said, "The partnership with Azimut is a major milestone for Al Mal Asset Management growth strategy. With more than US$50 billion in Assets Under Management, Azimut is one of the largest and fastest growing Asset Managers in Europe and we are very pleased to have them as a partner. Thanks to Azimut UCITS umbrella platform and their global distribution footprint, Al Mal’s highly successful MENA equity strategy will now be accessible to institutional and private investors around the world."

Sergio Albarelli, CEO of Azimut Holding, said, "The strategic partnership with Al Mal Capital is a key step forward in our strategy across the MENA region which also aims to leverage our presence in the Dubai International Financial Centre through AZ New Horizon, our local integrated financial advisory platform. The new fund will complement our regional expertise centred on the AZ Fund Global Sukuk, which is today one of the largest Sharia compliant UCITS funds investing in the asset class. This partnership fosters Azimut’s commitment in strengthening its global investment management platform, including strategic product partnerships for specialized regional strategies, as well as the Group’s continuous investment towards active management to generate value for clients versus passively managed portfolio."