Oman’s United Securities to set up new Gulf fund

06 Apr 2011

(MENAFN) The Omani brokerage and advisory firm, United Securities, stated that it would launch a new equity fund to tap investment opportunities in the Gulf area, reported Reuters.

The fund would invest money in all Gulf equity markets and would start with an IPO that has a minimum subscription of 3,000 units, priced at USD2.65 per unit.

More than one firm had recently set up equity funds in the Gulf Arab region as they look for new opportunities in the next big emerging market.

It is worth noting that asset management industry in the Gulf was hit strongly by the global financial crisis back in 2009 which led to a sharp drop in fund values.

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