United Securities, a
Muscat-based brokerage and advisory firm, is launching an equity
fund to tap investment opportunities in the Gulf, it said on
Tuesday.
The United GCC fund will be actively managed and will invest
across the Gulf equity markets, the firm said in a statement.
The initial public offering (IPO) period for the open-ended
fund will run for a month from April 10. The minimum
subscription for the fund will be 3,000 units with an IPO price
of OR1.02 ($2.65) per unit, United said.
Several local and international firms have launched equity
funds in the Gulf Arab region, aiming to benefit from
opportunities in the region touted as the next big emerging
market.
The relatively nascent asset management industry in the Gulf
took a heavy blow during and after the global financial crisis,
hit by investor outflows and a sharp drop in fund values.
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