S&P Fund Services announced yesterday that it had given the Global 10 Large Cap Index Fund an A rating. Global Investment House’s Ammar Talib Hajeyah runs the fund, which is one of the oldest and largest funds in the Gulf Cooperation Council (GCC). S&P said that the manager’s focus on reducing the tracking error, combined with the attractive fee structure and stable approach, justified an S&P A fund management rating.
MAJEDIE LAUNCHES GLOBAL FUND
Majedie Asset Management launched on Monday its global institutional equity business with its Global Focus fund. Managed by Simon Todd and Michael Nickson, the fund aims to outperform the MSCI World Total Return Index by 5 per cent per annum. Like Majedie’s four other funds, capacity will be limited to ensure that fund size does not hinder performance. Both Todd and Nixon were previously at Odey Asset Management where they co-managed the Odey Allegra Global fund.
NEW FTSE EMERGING MARKET INDEX
FTSE Group and EPFR, the fund flows data provider, have joined forces to create a new emerging market focused index, which was launched yesterday. The FTSE-EPFR index overlays country flows data on top of a market cap-weighted index. EPFR said that the new index gives investors a clearer picture of how these factors are driving emerging markets and can help improve portfolio performance by influencing an investor’s country weight adjustments.