Al-Rajhi Capital launches flagship ‘passive’ fund

Updated 22 January 2019

Al-Rajhi Capital launches flagship ‘passive’ fund

Al-Rajhi Capital (ARC), one of the largest asset managers in Saudi Arabia and a regional investment firm, has launched the “Al-Rajhi MSCI Saudi Multi-Factor Index Fund.” This fund is classified as an open-ended fund that aims to achieve medium- to long-term capital growth by tracking performance of the MSCI’s Saudi Multi-Factor Index, which complies with ARC’s Shariah board rules. 

As Al-Rajhi Capital’s first “passive” fund, it has been designed and built to have low-cost structure and provide investors easy access to the broader Saudi market. 

Megren Al-Kulaibi, head of asset management at Al-Rajhi Capital, said: “This fund was created to meet growing investor needs for a low-cost and efficient way to access the Saudi equity market from a long-term perspective. As a provider of innovative investment solutions, we are pleased to offer this rules-based, transparent alternative to investors. The fund targets both institutional and retail investors who are looking for a broader allocation to Saudi equity market from a strategic allocation or savings perspective.”  

Robert Ansari, head of Middle East coverage at MSCI, said: “MSCI is pleased to have developed the MSCI Saudi Multi-Factor Index. Global interest from investors in multi-factor investing continues apace as they seek an alternative approach to the Saudi Arabian equity capital market and transparent routes to efficiently access this emerging market via various financial instruments.”

Top CEO Conference & Awards wraps up in Bahrain

Updated 17 April 2019

Top CEO Conference & Awards wraps up in Bahrain

The Top CEO Conference & Awards 2019, organized by TRENDS magazine — Mediaquest and international business school INSEAD, has concluded at the Al-Areen Palace and Spa in Bahrain. The event, held on Thursday, included seven key panel discussions under the theme “Growth in a Volatile Future” as well as the Top CEO Awards 2019 ceremony, which recognized the region’s most successful and trendsetting CEOs from more than 700 companies listed on GCC stock exchanges.

Top business leaders and more than 30 speakers from across the GCC shed light on the Middle East’s dynamic but volatile region and the burning issues facing the corporate world today. This year’s theme focused on a score of relevant issues, such as oil price fluctuations, tech disruptions, armed and political schisms that pose new risks, and opportunities. Speakers such as renowned economist Professor Nouriel Roubini provided growth solutions and road maps for businesses in the GCC region.

Alexandre Hawari, CEO of Mediaquest, said: “In its fifth edition, the Top CEO Conference & Awards fully encapsulated the theme of ‘Growth in a Volatile Future’ by acknowledging and exploring the growth transformation that the region is undergoing through digitalization and the fourth industrial revolution amid geopolitical tensions, looming trade wars and a rapidly evolving business environment. Building on the huge success of the previous years, the Top CEO Awards 2019 recognized CEOs and companies who have raised the bar by navigating challenges, implementing new strategies, and have demonstrated unquestionable growth, profitability and excellence in corporate governance.”

The conference kicked off with an opening keynote from Jassim Al-Seddiqi, CEO of the Abu Dhabi Financial Group and chairman of GFH Financial Group, who delved into the potential of transforming the region into a fintech hub and the importance of jumping on the digital bandwagon. 

The prime panel discussion on the “Future of Growth Amid Volatility” brought together five CEOs who explored methods to create future-proof strategies that can not only tackle challenges but also boost growth in a tough geopolitical and economic climate. 

Hisham Al-Rayes, CEO and board member of the GFH Financial Group, said: “Investing in the future in areas such as fintech, education and technology, the foundations for strong, enduring knowledge-based economies, is a priority for the group and the governments of the region in which we invest.”

“The Blockchain Opportunity” and “The Human Factor and Tech Innovation” panels brought together industry experts from Facebook, the Bahrain FinTech Bay and King Abdul Aziz University. 

“The Future of Women’s Business Leadership” panel discussed positive strides taken by GCC governments and businesses in leveling the playing field for women professionals.