Jeddah-based investment firm Sedco Capital plans to register its Islamic funds in Switzerland and distribute them through tie-ups with global private banks, as a part of efforts to expand its client base outside Saudi Arabia.
Sedco Capital said it had included environmental, social and governance (ESG) principles into two of the equity funds, widening their approach to include ethically minded investors in general.
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Sedco expects this will help its funds to be marketed to investors beyond traditional Islamic areas in the Middle East and Southeast Asia.
The firm aims to generate two-thirds of its assets under management from outside Saudi Arabia in four to five years, according to chief executive Hasan Aljabri.
Hasan Aljabri said: "We are creating strong strategic relationships with private banks to distribute our products. We are about to
"We aim to have one signed by October and the second one by December, in the meantime also signing with other regional-oriented institutions," he added.
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By GlobalDataSedco Capital’s two ESG funds, launched in May 2012, have US$230 milion in assets and are managed by Stockholm-based Informed Portfolio Management.
