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GIB unit fund appoints Barclays for brokerage services

GIB unit fund appoints Barclays for brokerage services

MANAMA, 3 days ago

GIB Emerging Markets Opportunities Fund, the flagship hedge fund of GIB (UK), has appointed Barclays Bank to provide additional prime brokerage services to the fund.

GIB UK is a subsidiary of Bahrain-based Gulf International Bank (GIB), said a report in the Gulf Daily News (GDN), our sister publication.

The appointment complements the relationship with the fund’s existing prime broker, Credit Suisse Securities (Europe), and is consistent with the fund’s philosophy of working with the best service providers in their field.

GIB UK managing director and chief executive Mark Watts said the appointment is key to the strategy of growing the fund.

“At over $300 million in assets under management, the fund has been providing top decile risk adjusted returns, (based on the fund’s Sharpe Ratio compared to EuroHedge league table peers), to investors for more than three years now.

“We are delighted that Barclays has joined us to help take the fund to the next level.”

The fund is an emerging markets-focused multi-strategy total return product, predominately investing in hard currency sovereign and corporate fixed income securities.

Its investment objective is to seek to provide consistent returns over the medium to long term, with low correlation to underlying market indices whilst preserving capital, and minimising short-term volatility.

The GIB Emerging Markets Opportunities Fund is an open ended investment company incorporated as an exempted company under the laws of the Cayman Islands. – TradeArabia News Service

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