Abu Dhabi’s Invest AD Starts Middle East, Africa Bond Fund

Invest AD, an Abu Dhabi-based asset manager, said it started a Middle East and Africa bond fund today with an initial capital of $25 million to tap high growth economies where companies can’t easily get bank loans.

The bond fund, the first of its kind at Invest AD, will primarily invest in U.S. dollar-denominated debt across the region, the fund’s manager, Dilawer Farazi, said in an interview in Abu Dhabi yesterday. Forty percent of the fund will be earmarked for sovereign and quasi-sovereign bonds while 60 percent will be invested in corporate bonds, Farazi said.

To contact the reporter on this story: Mahmoud Kassem in Abu Dhabi at mkassem1@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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