FMG (EU) MENA Fund gained +1.2% in the 2nd Quarter

The second quarter was predictably slow in the region as Ramadan and Eid fell in May and June respectively. The MENA region moved in line with global markets during the quarter despite the price of Brent declining by 5%. The performance spread between the different...

FMG (EU) MENA Fund gained +8.5% in the 1st Quarter

The MENA region continued to perform strongly lead higher by index heavyweight Saudi Arabia (+13%). The net oil exporting countries showed the strongest performance for the quarter on the back of a strong rebound in the price of Brent (+27%) while peripheral markets...

FMG (EU) MENA Fund lost 5.2% in the 4th Quarter and 2.0% in 2018

The MENA region showed strong resilience in the 4th quarter when most asset classes fell in tandem. Not even a 37% drop in the price of crude managed to put a dent in the performance. The regions heavyweight, Saudi, held up well supported by strength in the banking...

FMG (EU) MENA Fund lost 5.6% in the 3rd Quarter

The third quarter was another relatively strong one for the MENA region, sharply outperforming most developing markets, cheered on by oil prices at or above $80 per barrel. Qatar (+11%), Oman (+10%) and Kuwait (+9%) were the top performing markets, while in the...

FMG (EU) MENA Fund gained 1.2% in the 2nd Quarter

For the second quarter in a row, we saw a wide spread in performance across the MENA markets. In Tunisia, stocks remained upbeat (+22%), followed by Saudi (+12%) while Oman was down 14%. The MENA region bucked the global market trend for the second quarter in a row,...

FMG (EU) MENA Fund gained 8.3% in the 1st Quarter

The peripheral markets of Tunisia (+30%) and Jordan (+11%) were the best performings in the region in a quarter where MENA markets substantially outperformed world markets. This had little impact on the MENA fund’s performance as these markets are relatively small and...
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