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FINANCIAL NEWS
ING fund eyes investment in UAE ventures
24 Jul 2010
(MENAFN) ING Investment’s Mena fund said it has Dubai property developer Emaar Properties and Abu Dhabi-based RAK Ceramics among its top picks to be an early investor in growth companies.
Fadi Al Said, head of equities at ING’s Middle East Investment Team and portfolio manager for the $50 million fund, said the fund invested heavily at the peak of the debt crisis in Dubai, when most investors preferred to remain on the sidelines and valuations were cheap.
The fund has more than four percent of its assets in Emaar, a company Said believes is not adequately valued by the market. He said markets are ignoringthe value of parts of the company.
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