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Allianz Global Investors Launches in Middle East With Shariah Funds
Nick Parmee
29 May 2008
As part of its long term strategy and commitment to Middle Eastern clients, Allianz Global Investors will base its regional operations in a new permanent representative office in
As part of its initial offer to regional investors,
Nick Smith, head of fund distribution at Allianz Global Investors (UK), said: “We are very committed to building a long term business in the region by offering the best of our global asset management capabilities together with a very high level of local service. We believe that clients increasingly want access to the most sophisticated asset management expertise whether applied to well-established funds investing in core areas, or applied to newer, more innovative funds investing in specialist areas.” The firm sees growing demand over the long term for Shariah-compliant funds, especially those based on proven strategies investing in promising areas and also believes that recent equity market corrections have provided a good entry point for investors. Despite some volatility in the short term, its medium to long term view on equities is very positive.