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| NCB Capital Strategic Alliance with Amundi and TCW |
| 3/25/2012 |
 As we work towards our objective of becoming the GCC's leading wealth manager, it is important that we enhance our ability to open up international markets for our clients and to continue to launch and manage strongly-performing funds.
Last week we have taken a major step on that road, with the announcement of a global strategic alliance with the Trust Company of the West (TCW) and Amundi. Together they will manage our international equity funds and help in the expansion of our products and services. This alliance will create one of the largest and most diversified Shariah fund platforms in the world.
We undertook a rigorous selection process with a number of the world's leading asset managers before choosing TCW for its leadership in US markets and Amundi for its global reach. Together, the combined platform will provide access to award winning track records for our clients.
Founded in 1971 and based in Los Angeles, TCW develops and manages a broad range of US equity, US fixed income, alternative and international strategies and innovative investment products. The firm has approximately US$124 billion in assets under management and has a long history of managing funds for institutional clients in the Middle East.
Amundi is a leading global asset manager ranked 2nd in Europe and 9th worldwide in terms of assets with approximately US$852 billion under management. The firm's clients are 3,000 of the world's largest state entities, pension funds, institutions, corporate funds and distributors and it covers all asset classes and major currencies. Amundi also provides savings solutions for retail networks to meet the needs of more than 100 million clients worldwide. It has strong track record in the Middle East and has over twenty years experience managing Shariah compliant portfolios.
Following the approval of the Capital Market Authority, TCW and Amundi have begun managing seven of our AlAhli range of international mutual funds with a combined total of US$550 million. TCW were assigned three funds - US, Small Cap and Healthcare equities - whilst Amundi now manage four funds - Global, Emerging Markets, Asia Pacific and European equities.
Initially, the combined platform will target Saudi investors but in due course its scope will be expanded to international clients and we will be able to call on the entire range of TCW's and Amundi's strategies, to the benefit of investors throughout the Kingdom and internationally.
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