Bonnie Tse, Vice President of Wealth Management, Manulife (International) Limited, said: "The MENA investment market has shown low correlation with other major markets and therefore is a great portfolio diversifier for investors."Ms Tse
added: "The launch of the fund is timely to catch the attractive investment opportunities arising from the rapid economic growth of the region."
Although oil has been the source of the region's boom, the wealth effects have spread well beyond the oil exporters themselves, according to Ms Tse
."As people are getting richer in the MENA
region, Islamic banking is attracting growing interest from international financial institutions, for example." Ms Tse
concluded: "Following the success of our Russia and Turkey equity funds launched previously, we will continue to offer more investment choices to investors with different needs, this is shown by our launch of the MENA equity fund in February."