We are speaking to fund selectors based in locations beyond the major financial centres, on an 80-day trip around the world. Today, we explore a destination in Middle East, in a region best known for its oil reserves: United Arab Emirates.
Because the Middle East meets most the world’s energy needs, investors naturally gravitate towards the sector.
Clients of the Abu Dhabi Commercial Bank also exhibit a strong home bias and like familiar names.
But it is the financial services sector that accounts for 50%-60% of the MSCI GCC Index, says fund manager Szymon Idzikowski.
Idzikowski talks about the impact of this misconception, other client preferences and his best investment call, in an interview with Citywire Asia.