MFS takes funds management to Middle East

Phil Adams

MFS Limited has announced it will be providing its funds management and investment activities into the Middle East region.

The opportunity to offer its services to the Middle East has come about through a joint venture entity established by MFS and the Emirates Sunland Group in which both parties own a 50 per cent share.

The joint venture vehicle will originally be based in Dubai, but already has plans for expansion to other regions of the United Arab Emirates (UAE).

Under the agreement full control over the operation will rest with MFS and the Australian-based financial services organisation will also be responsible for the development of new business.

At present MFS is looking to replicate the Australian financial services model overseas and intends to offer a wide range of investment opportunities to the region including exposure to asset classes such as property, equities, mezzanine lending, absolute return funds and leisure and accommodation assets.

Making strategic investments in the region through its investment banking group has also been flagged as a priority for MFS.

“The UAE is one of the world’s high growth regions and we see tremendous opportunities to leverage our business model in the region,” MFS managing director Phil Adams said.

“It is likely we will seek to develop relationships with local business partners in the region and we will also look at strategic acquisition opportunities to generate growth,” he added.

MFS’ partner in the operation, Emirates Sunland Group, is itself a joint venture company with 50 per cent of it ownership held by Sunland Group and the other 50 per cent held by Emirates Investments Group Limited.