Exotix partners up with Saudi Arabia’s NCB Capital


Exotix Capital, an investment bank specialising in developing markets, has teamed up with Saudi Arabia‘s NCB Capital to provide frontier and emerging markets research and local execution services.

“The Kingdom of Saudi Arabia has entered a new phase, characterized by economic reforms to diversify, strengthen and grow the economy,” NCB Capital’s head of securities division, Mohammed Al-Nory, said in a statement on Monday.

“We believe that this transformation, together with recent upgrades to key emerging market benchmark indices, will lead to tactical and long term stock market opportunities for equity investors.”

Global index provider MSCI classified Saudi Arabian equity market as an emerging market in June, a move expected to attract billions of dollars of passive funds.

Last month, JP Morgan has included Saudi Arabia’s bonds in its emerging markets bond indexes, which Saudi Areabia estimates will attract $11 billion in inflows into the country’s debt.

Exotix Capital, part-owned by NEX Group’s founder <NXGN.L> Michael Spencer, said the partnership with NCB Capital – which has more than $37 billion of assets under management – is part of an expansion of the firm’s global research and trading capabilities.

DUBAI (Reuters)

You may also like

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: