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...

FMG (EU) MENA Fund gained +0.4% in the 4th Quarter and +10.4% in 2017

In the 4th quarter oil prices rallied by around 20% but almost all stock markets in the oil exporting nations around the world failed to track this performance. On the contrary, in the MENA region, the oil importers were the best performers with Jordan gaining 6%...

FMG (EU) MENA Fund gained +2.6% in the 3rd Quarter of 2017

FMG (EU) MENA Fund gained +2.6% in the 3rd Quarter of 2017 It was a relatively weak quarter for the MENA markets, underperforming emerging and frontier markets by a wide range. The broad MENA indices were basically flat throughout the month despite the price of Brent...

FMG (EU) MENA Fund gained +4.1% in the 2nd Quarter of 2017

FMG (EU) MENA Fund gained 4.1% in the 2nd Quarter of 2017 Despite the price of Brent being in deep negative territory in 2017, the MENA markets have proven resilient. In fact, our technical models still confirm a bullish trend. The only sizeable stock market in the...
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