Century Private Wealth launches Middle East’s first Nasdaq licensed fund

The fund aims to outperform the Nasdaq 100 technology index through a blend of active and passive management. – by SUNIL SINGH

Independent wealth and asset management firm, Century Private Wealth, has launched the Middle East’s first Nasdaq-licensed fund, the Century Nasdaq 100 Enhancer PC.

Century PW, based in the Dubai International Financial Centre, said the fund aims to capitalise on the technological revolution and outperform the Nasdaq 100 technology index through a blend of active and passive management.

‘The fund works under the licence agreement with Nasdaq and has been granted a licence to use the index as a basis for determining the composition of its investments and to use certain trade names and trademarks of Nasdaq in connection with this fund,’ the asset management firm said on its website.

‘The emerging technology trends have a significant impact across industries and are actionable for businesses today. The Middle East has seen the introduction of several significant market initiatives,’ said Bal Krishen, chairman of Century Group.

‘We are confident that this fund launch will create great opportunities for investors to participate in the growth of the world’s most innovative companies,’ he added.