QNB Suisse SA appoints Societe Generale Securities Services in Ireland for its pioneer UCITS-compliant umbrella fund

QNB Suisse SA, a subsidiary of Qatar National Bank, has selected Societe Generale Securities Services (SGSS) in Ireland to help establish and support QNB Global Funds ICAV, its European UCITS-compliant umbrella fund.

The ICAV, an Irish collective asset-management vehicle, currently offers 2 fully segregated sub-funds, “QNB ZyFin India Consumption UCITS ETF” and “QNB MENA Fund”.

QNB ZyFin India Consumption UCITS ETF
Europe’s first physically replicated Indian consumption ETF, the sub-fund tracks the performance of the ZyFin India Consumption Index which comprises equities of companies that are likely to benefit, either directly or indirectly, from the expansion of consumption led demand in India. Developed by ZyFin Research Private Limited, the Index is a thematic index aligned with Indian consumer spending trends and comprises 30 investible Indian listed stocks selected from consumer driven sectors.

This sub-fund aims to provide long term capital appreciation through investments in equity securities on recognized markets located in the Middle East and North of Africa (MENA). The sub-fund seeks to outperform the benchmark index, which tracks the performance of large and mid-cap stocks from 11 pan Arab equity markets, by investing primarily in equity securities listed on recognized markets in MENA, including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates.

As UCITS-compliant sub-funds, “QNB ZyFin India Consumption UCITS ETF” and “QNB MENA Fund” can be sold within the European Union and other select markets on a passport basis. SGSS in Ireland will provide a complete fund services offering to support the distribution of the sub-funds to investors throughout Europe. Services include fund administration, transfer agency and depositary and custody services.

Ireland is recognised globally as a leading location for the establishment and servicing of regulated investment funds, especially UCITS. SGSS in Ireland has extensive experience and expertise in providing the full spectrum of fund services to both UCITS and alternative investment funds and has had a presence in the market for close to 20 years.

Next Finance May 2017



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