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Microsoft PowerPoint - AM-PPP-FINAL1(large) [Read-Only]
 

Microsoft PowerPoint - AM-PPP-FINAL1(large) [Read-Only]

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    Microsoft PowerPoint - AM-PPP-FINAL1(large) [Read-Only] Microsoft PowerPoint - AM-PPP-FINAL1(large) [Read-Only] Presentation Transcript

    • Al Mal MENA Equity Fund
    • Fund Summary of Terms … 2 Al Mal Capital: Background … 3 Asset Management Product Range … 4 Successful Track Record … 5 Investment Case … 8 Investment Philosophy and Process … 10 Appendix: Asset Management Team Profile … 11 This presentation has been prepared solely for informational purposes and does not constitute an offer or an invitation to sell or to invest in the Al Mal MENA Equity Fund or any other securities, to or from any person. The promoter of Al Mal MENA Equity Fund reserves the right, in the future, to make any offer or invitation to offer pursuant to the relevant Private Placement Memorandum, as may be amended from time to time. These materials are confidential and may not be reproduced or provided to others without the express written permission of Al Mal Capital PSC. Investments in Al Mal MENA Equity Fund may involve a degree of risk. There can be no assurance that the Al Mal MENA Equity Fund will be able to achieve its stated investment objectives. Potential investors should carefully evaluate the risks, which are set forth in greater detail in the Private Placement Memorandum, in considering whether to invest in the Fund. The information contained in this presentation is not intended to be an investment recommendation and should not be relied upon in making an investment decision. The information is of a general nature and does not take into account the objectives and circumstances of any individual investor. Investors should seek professional financial, legal, investment and if required taxation advice specific to their investment objectives, financial situation and particular needs before making an investment decision. The information made available through this presentation, including any expression of opinion or forecast, has been obtained from or based on sources believed to be generally reliable. No representation is given with respect to the accuracy, completeness or currency of the opinion, forecast and information included the presentation and they may change without notice. Al Mal Capital PSC and its related companies will not be liable for any inaccuracies, omissions or errors in the content nor for any loss or damage arising from action taken in reliance on the information. Al Mal MENA Equity Fund does not guarantee the repayment of capital, the performance of, or any particular rate of return from an investment. Investment in any fund including Al Mal MENA Equity Fund may be subject to market and other risks, resulting in ultimately loss the principal invested. Any information on the attached presentation relating to the distribution history or performance history of any investment, should not be taken as an indication of the future performance of the relevant investment. No guarantee of future returns is implied or given. Al Mal Capital - Asset Management 1
    • Al Mal MENA Equity Fund FUND SUMMARY OF TERMS Fund Summary of Terms Fund Objective To achieve significant capital appreciation primarily through investment in equity and equity-related securities in the Middle East and North African Al Mal Capital: Background markets. Asset Management Product Range Legal Structure Bahrain Registered, Open-End Investment Fund Successful Track Record Fund Offering Period May 25 to June 15, 2008 Investment Case Investment Philosophy and Process Fund Offering Price USD 10.00 Appendix: Asset Management Team Profile Minimum Subscription USD 250,000 Fund Offering Size Minimum USD 10,000,000 Maximum USD 1,000,000,000 Fund Manager Al Mal Capital PSC Management Fees 1.75% per annum Liquidity Weekly Administrator & Custodian HSBC Bank Middle East Auditors KPMG Legal Advisors Qays H. Zu’bi, Attorneys & Legal Consultants Al Mal Capital - Asset Management 2
    • Al Mal MENA Equity Fund AL MAL CAPITAL: BACKGROUND Fund Summary of Terms • Founded by a team of three MENA-based investment bankers, led by Naser Al Mal Capital: Background Nabulsi – the founding CEO of DIFC Asset Management Product Range • Licensed by the Central Bank of the UAE in November 2005, the first Successful Track Record investment company license issued in 17 years Investment Case Investment Philosophy and Process • Over 80 founder shareholders comprised of prominent business families and Appendix: institutions from the UAE and the Middle East region Asset Management Team Profile • Three main business lines – Investment Banking, Brokerage, and Asset Management • Team of 85 professionals from international banks and major regional players • Asset Management increased assets under management (AUM) year-on-year by 250%, exceeding AED 2 billion in funds and managed products Al Mal Capital,-Asset Management 3 Capital Asset Management
    • Al Mal MENA Equity Fund ASSET MANAGEMENT PRODUCT RANGE Fund Summary of Terms Al Mal Capital: Background Asset Management Product Range Successful Track Record Investment Case Investment Philosophy and Process Appendix: Asset Management Team Profile *estimated, final close expected June 2008 • Demonstrated success in fund raising in public and private product offerings • Clear ability to execute on strategies and deliver return to investors • Coverage of key asset classes and strategies in MENA Al Mal Capital - Asset Management 4
    • Al Mal MENA Equity Fund SUCCESSFUL TRACK RECORD: Al Mal UAE Equity Fund Fund Summary of Terms Highlights Al Mal Capital: Background • Outperformed in bull and bear market conditions • Tactical allocation of the MENA component in the fund Asset Management Product Range • Selective use of cash/fixed income in bear market conditions Successful Track Record Investment Case Investment Philosophy and Process Appendix: Asset Management Team Profile Performance 2006* 2007 YTD 2008 Since inception* Al Mal UAE Equity Fund (19.0%) 50.4% (5.9%) +14% MSCI UAE Index (37.4%) 34.5% (5.6%) (25%) Over / Under Performance +18.4% +15.9% (0.3%) +39% * to April 2008 Al M l C i l A M 5
    • Al Mal MENA Equity Fund SUCCESSFUL TRACK RECORD: Al Mal UAE Equity Fund Fund Summary of Terms Al Mal UAE Equity Fund: MENA Component Al Mal Capital: Background The Al Mal UAE Equity Fund has the option of allocating up to 25% of its Asset Management Product Range assets within the MENA region; the below breakdown demonstrates our Successful Track Record ability to use this allocation to generate returns exceeding the benchmark by tactically allocating this 25% component. Investment Case Investment Philosophy and Process FOR THE PERIOD - PERFORMANCE MENA Regional Date Entered Date Exited Relevant UAE Equity MSCI UAE Outperformance Appendix: Market Country Fund Index Asset Management Team Profile Morocco Dec-06 Apr-07 31% 2% (6%) +8% Saudi Arabia Jun-07 Sep-07 19% 4% 0% +4% Egypt Nov-07 Dec-07 21% 6% (3%) +9% Advantages: • Demonstrated ability to recognize and captivate on opportunities in the MENA region • Significant market ‘inflection points’ captured in track record Al Mal Capital - Asset Management 6
    • Al Mal MENA Equity Fund SUCCESSFUL TRACK RECORD: MENA PORTFOLIO Fund Summary of Terms Highlights Al Mal Capital: Background • Outperformance versus MSCI Arabian Index • Overweight Kuwait as it offered reasonable valuations, while underweighting Saudi Asset Management Product Range • Overweight energy and real estate themes and underweight financials Successful Track Record • Stock selection using disciplined investment process Investment Case Investment Philosophy and Process Appendix: Asset Management Team Profile Performance in 2008 Jan Feb Mar Apr MENA Portfolio (7.7%) 4.4% (10.8%) 11.6% MSCI Arabian Markets Index (11.4%) 6.7% (8.3%) 8.2% Over / Under Performance +3.7% (2.2%) (2.5%) +3.3% * Inception: 9th Jan 2008 Al Mal Capital - Asset Management 7
    • Al Mal MENA Equity Fund INVESTMENT CASE Part 1 of 2: MENA’s Growing Economies and Wealth • Strong flow of foreign direct investments of USD 126 billion (accounting for 7% of Fund Summary of Terms World FDI in 2009) in the MENA region Al Mal Capital: Background • High oil price triggering huge influx of liquidity, GCC to earn a cumulative USD 4.7 trillion Asset Management Product Range by 2020 with an assumption of $50/barrel • Non-hydrocarbon revenues such as tourism, financial services and manufacturing are increasingly Successful Track Record becoming a larger part of MENA GDP Investment Case • Current account surplus is presently at 21% of MENA’s GDP • GCC demographics are considered among the youngest and fastest growing globally. GCC Investment Philosophy and Process population growth during 2007 reached 3% compared to World 1.2%, BRIC 0.68%, and G7 0.36% Appendix: • Forecast MENA GDP growth at 7.1% is over 2x the expected global average of 3.3% for 2008–2009 Asset Management Team Profile Al Mal Capital,-Asset Management 8 Capital Asset Management
    • Al Mal MENA Equity Fund INVESTMENT CASE Part 2 of 2: Attractive Growth at a Reasonable Price Fund Summary of Terms Growth Vs Valuation Al Mal Capital: Background Asset Management Product Range Successful Track Record Investment Case Investment Philosophy and Process Appendix: Asset Management Team Profile MENA markets are attractively priced • Continued solid corporate earnings growth driven mainly by non-oil sector contribution • Reasonable valuations backed up by strong economic growth and robust liquidity • Low to negative correlation with global markets Al Mal Capital,-Asset Management 9 Capital Asset Management
    • Al Mal MENA Equity Fund INVESTMENT PHILOSOPHY AND PROCESS Fund Summary of Terms We believe in prevailing themes and investments that capture good long term company fundamentals, and buying growth at a reasonable price. Al Mal Capital: Background Asset Management Product Range Successful Track Record Investment Case Investment Philosophy and Process Appendix: Asset Management Team Profile Our investment process begins by identifying long term themes and high quality company shares, then further qualify candidates using our screening criteria which focus on profitability, growth, valuation and liquidity. A thorough examination of companies’ financials and analysis of durable business opportunities and competitive forces is undertaken, followed by ongoing meetings with company management. The Fund Manager and the Investment Committee review regularly the portfolio’s relative performance, target prices, stock and sector selection as well as any rebalancing which may be needed. Al Mal Capital - Asset Management 10
    • Al Mal MENA Equity Fund ASSET MANAGEMENT TEAM PROFILE Fund Summary of Terms Tariq Qaqish Fund Manager Al Mal Capital: Background Mr. Qaqish has an extensive experience of over ten years in local and regional stock markets. Prior to joining Al Mal Capital at the end of 2007, he spent six years with National Bank of Abu Dhabi (NBAD) where he Asset Management Product Range also managed two of NBAD’s most successful funds, the UAE Growth Fund and UAE Distribution Fund, Successful Track Record for the past two years. Assets under management for the two funds exceeded AED3 billion. The UAE Distribution Fund was the best performing fund in the UAE for 2006 and the UAE Growth Fund was the Investment Case top local performer in 2007, both outperforming the benchmarks by double digits. Mr. Qaqish is a holder of Investment Philosophy and Process a Masters’ Degree in International Banking from the University of Wollongong in Australia. Appendix: Asset Management Team Profile Bharath Rajnarayan Vice President Mr. Rajnarayan joined Al Mal Capital in January 2006 and has served in both senior operational and fund management roles. Prior to this, he was employed by regional institutions like Doha Bank (Qatar), Gulf Investment Services (Oman), and ONIC Holding (Oman), managing in excess of USD 500 million in funds, client assets and proprietary portfolios. Before moving to the region in 1994, he worked in the United States as an Equity Analyst with Jonathan Smith & Company in Greensboro, North Carolina. Mr. Rajnarayan received his Master of Business Administration from the University of North Carolina at Greensboro, Elon College. He has served on the investment committee of pension funds, corporate houses, and banks. Al Mal Capital - Asset Management 11
    • Al Mal MENA Equity Fund ASSET MANAGEMENT TEAM PROFILE Fund Summary of Terms Jalal Faruki Senior Associate Al Mal Capital: Background Mr. Faruki joined Al Mal Capital in April 2006. He has held various roles including managing the Proprietary Investment desk for Al Mal Capital in 2006 as well as the Institutional Sales and Trading Desk in the Asset Management Product Range brokerage arm of Al Mal Capital in 2007. Prior to joining Al Mal, he worked with ProFunds in the US from Successful Track Record mid-2005, dealing mainly with institutional clients. He also worked as Account Executive at DMG Securities, based in the Washington, D.C. area, and from 2002 till mid-2005 he built a book of client assets of over USD Investment Case 40 million. Mr. Faruki received his Bachelor of Science in Business Information Technology from Virginia Investment Philosophy and Process Tech, he has also attained various licenses and certifications including NASD Series 7 and 63. Appendix: Asset Management Team Profile Parth Kikani Senior Analyst Parth Kikani joined Al Mal Capital in 2007. He works as a Senior Analyst in the Asset Management team and is responsible for financial modeling and investment analysis for MENA public equity activities. Parth completed his Chartered Accountancy and completed his post graduate Diploma in Investment Banking from S.P. Jain Centre of Management, Dubai. Rakan Himadeh Analyst Mr. Himadeh joined Al Mal Capital in 2008. He prepares financial model and investment proposals for consideration. He graduated from McGill University in Montreal, Canada with distinction, attaining his Bachelors of Commerce in Finance. Al Mal Capital - Asset Management 12
    • Office 302, Burj Dubai Square 4 Sheikh Zayed Road, P.O. Box 119930, Dubai, UAE Tel: +971 4 360 11 11, Fax: +971 4 360 11 22 www.almalcapital.com