NCB Capital chief executive Jawdat Al Halabi said the clients expect from the firm to provide the best and widest range of services to them and this alliance will further boost their product offering and geographic reach.
"By aligning with TCW and Amundi, we are enhancing our strong brand and will have access to highly complementary skills and expertise. Our funds, and therefore our clients, will gain from the proven international capabilities of our two partners," Halabi added.
TCW and Amundi have started managing seven of NCB Capital’s AlAhli range of international mutual funds with a combined total of $550m, after obtaining approval from Saudi Arabia’s Capital Market Authority.
NCB has assigned three funds to TCW such as US, Small Cap and Healthcare equities, while Amundi will manage four funds, which includes Global, Emerging Markets, Asia Pacific and European equities.
As of 31 December 2011, NCB Capital owned a portfolio of SR44bn ($11.7bn) of assets under management.
NCB Capital said that after a long haul, it has chosen TCW for its leadership in the US markets and Amundi for its global reach and the joint platform will cater access to track records for its clients.
Holding nearly $124bn in assets under management, TCW develops and manages a broad range of US equity as well as US fixed income, alternative and international strategies and innovative investment products.
Amundi posses about $852bn of assets under management, provides and develops alpha-generating solutions for over 3000 of the world’s largest state entities, pension funds, institutions, corporate funds and distributors covering all asset classes and major currencies.
