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(Update) AA-rated MENA equity outperformer exits

(Update) AA-rated MENA equity outperformer exits

Citywire AA-rated Ali Al Nasser has left FIM Partners after nearly a decade with the frontier markets specialist investor, Citywire Selector can reveal.

It is understood January 4 marked Nasser’s last day with the Dubai-headquartered company, which he joined in 2009 to focus on long-only public equity.

During his tenure, Nasser had co-managed the FIM Mena Horizon fund since June 2010 and the Ucits-compliant version of the Duet Mena Horizon fund, which was launched in February 2015.

FIM said its CEO and CIO Hedi Ben Mlouka, who oversees the firm's overall MENA and frontier market strategy, remains in place on the fund. He is ultimately responsible for decision-making on both the SIF- and Ucits-compliant versions of the Mena Horizon fund.

FIM also wished Nasser well in his future endeavours. It was also not revealed whether Nasser intends to stay within fund management following his departure from the group.

Nasser currently sits third out of 18 Equity – Mena managers for his five-year absolute return, while he is fourth out of 22 on a three-year basis, both of which are to the end of November 2017.

He was also showcased in the Sector Showdown section of Citywire Selector magazine in the July-August 2016 edition for his consistent outperformance on a five-year basis.

The FIM Mena fund returned 18.5% in US dollar terms against a 3.6% loss by its Citywire-assigned benchmark, the S&P Pan Arab Composite, over the same three-year timeframe to the end of December 2017.

This article was updated on January 8 to include the response from a spokesperson for FIM.

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