Exotix partners up with Saudi Arabia’s NCB Capital

Spread the info

Time: October 08, 2018   

DUBAI: Exotix Capital, an investment bank specializing in developing markets, has teamed up with Saudi Arabia’s NCB Capital to provide frontier and emerging markets research and local execution services.
“The Kingdom of Saudi Arabia has entered a new phase, characterized by economic reforms to diversify, strengthen and grow the economy,” NCB Capital’s head of securities division, Mohammed Al-Nory, said in a statement on Monday.
“We believe that this transformation, together with recent upgrades to key emerging market benchmark indices, will lead to tactical and long-term stock market opportunities for equity investors.”
Global index provider MSCI classified Saudi Arabian equity market as an emerging market in June, a move expected to attract billions of dollars of passive funds.
Last month, JP Morgan has included Saudi Arabia’s bonds in its emerging markets bond indexes, which Saudi Arabia estimates will attract $11 billion in inflows into the country’s debt.
Exotix Capital, part-owned by NEX Group’s founder Michael Spencer, said the partnership with NCB Capital — which has more than $37 billion of assets under management — is part of an expansion of the firm’s global research and trading capabilities.

This article was first published in Arab News

If you want more interesting news or videos of this website click on this link  Arab News Home


Spread the info