ADS Securities goes the wealth management route in the Middle East, demonstrating further asset class diversity

Abu Dhabi-based FX brokerage ADS Securities has today announced a partnership with wealth management firm Duemme SGR which is an Italian multinational wealth management company which is owned by the Mediobanca and Mediolanum private banking group. At a time when FX brokerages are looking to expand their asset classes and lower counterparty credit risks associated with […]

Abu Dhabi-based FX brokerage ADS Securities has today announced a partnership with wealth management firm Duemme SGR which is an Italian multinational wealth management company which is owned by the Mediobanca and Mediolanum private banking group.

At a time when FX brokerages are looking to expand their asset classes and lower counterparty credit risks associated with volatility in the FX markets, this represents yet another example.

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The result of this partnership is the creation of Duemme GCC Markets – GCC being an abbreviation of Gulf Cooperation Council – which is a balanced fund that invests in markets within the GCC area, namely United Arab Emirates, Saudi Arabia, Quatar, Bahrain, Kuwait and Oman.

The parent company, Duemme SGR, will be responsible for the management of the fund which will be launched within the coming weeks, and ADS Securities will provide advisory services.

In terms of asset classes, the majority of the investments will be in the form of equities and bonds of issuers which are domiciled in a GCC member country, along with companies that conduct their principal business activites in the GCC and surrounding countries.

As far as distribution is concerned, the fund may invest up to 50% in bonds, with a minimum of 30%, whereas between 30% and 70% can be invested in equity, and a benchmark of 60% Standard & Poor Composite and 40% Baclays GCC credit and high yield.

Filippo Di Naro, CEO of Duemme SGR today made a corporate statement on the imminent partnership

“We are extremely pleased to have found the right partner in ADS Securities to give our clients the chance to invest in markets and economies that have yet to be fully explored by global investors and that are currently undergoing significant expansion. The Duemme GCC Markets fund will allow us to optimize investment diversification, not only in terms of geography, but also in terms of asset class, currency and financial instrument .”

Matteo Legler, COO of ADS Securities added

“The GCC has a very high per capita income and non-oil revenues now drive growth in the region. We always advise investors to look at the performance of GCC equities compared with other emerging markets, and we are confident they will be pleased by the potential which exists.”

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