Italian asset management firm Duemme SGR has partnered with and Abu Dhabi-based ADS Securities to offer global investors new investment opportunities in the Middle East, including through equities and fixed income.

The result of their partnership is Duemme GCC Markets, a balanced fund investing in GCC markets, specifically the UAE, Saudi Arabia and Qatar, as well as Bahrain, Kuwait and Oman.

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Duemme SGR will help manage the overall fund, while, ADS Securities will be providing advisory services.

Also, ADS Securities will provide Duemme SGR with research, selection and advisory services for investments.

The fund, which is scheduled to be available over the next month, will mainly invest in equities and bonds of issuers domiciled in a member country of the GCC and neighboring countries or in companies that conduct their principal business activities in the GCC and neighboring countries.

The fund may invest up to 50% (minimum 30 %) in bond, up to 70 % (minimum 30 %) in equity, and will have as a benchmark of 60% S&P GCC Composite and 40% Barclays GCC credit + HY, the companies said in joint statement.

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Duemme SGR CEO Filippo Di Naro said: "We are extremely pleased to have found the right partner in ADS Securities to give our clients the chance to invest in markets and economies that have yet to be fully explored by global investors and that are currently undergoing significant expansion.

"The Duemme GCC Markets fund will allow us to optimize investment diversification, not only in terms of geography, but also in terms of asset class, currency and financial instrument."

ADS Securities COO Matteo Legler said: "The GCC has a very high per capita income and non-oil revenues now drive growth in the region. We always advise investors to look at the performance of GCC equities compared with other emerging markets, and we are confident they will be pleased by the potential which exists."