First Capital to launch fund duo - 28th Sep 2011

DIFC-based First Capital of Switzerland Investment Bank is to launch two funds by the end of the year with $1 billion of starting capital.
One fund, with $500m in assets, will invest in health services in the UAE and wider MENA region. The other $500m fund will invest in precious metals, according to the firm.
Abdul Rahman Al Ansari, the firm’s CEO predicted a positive outlook for the MENA region in 2012 and specifically commended the Abu Dhabi government’s concern with SMEs, which he said served national economies and provided job openings.
Economic diversification will help the banking sector benefit from the boom in production and labour, as well as the rise in oil prices and the rescheduling of Dubai loans, he added.

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