Tunisia’s Attijari launches three balanced funds

5 Dec 2011
Attijari, Launches, News, Tunisia

Tunisian asset manager Attijari Gestion has launched three balanced funds, in response to newly found confidence in the Tunisian market.

“We felt three types of needs from our clients,” Leila Ben Khemis Belhedi, managing director of Attijari Gestion, told Mena FM. “And we answered those needs by launching three products with different levels of risk-taking.”

The Attijari FCP Serenite, Attijari FCP Dynamique and Attijari FCP Harmonie funds were officially launched at the beginning of November, although Belhedi would not disclose the launch AUM or target returns. “We only deal with long-term investments,” she said. “Moreover, the Tunisian market is doing well, all the indicators are in the green and despite the small downs, people remain confident.”

Tunisia has seen significant market recovery since popular revolt led to the departure of former President Ben Ali earlier this year. By the end of October, MSCI recorded a monthly market performance of +2.37%, while YTD performance was at -2.14, outperforming the GCC countries (ex SA), which were at -14.38% in the first 10 months of the year.

“The financial market is a mirror of the political and social world,” added Belhedi. “Real estate hasn’t gone down, the stock exchange has remained stable and the quarterly indicators are all good, so we have the fundamentals.”