Sedco Capital prepares feeder fund before Saudi market opening

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By Bernardo Vizcai** MANAMA, March 4 (Reuters) - Jeddah-based Islamic investment firm Sedco Capital plans to launch a Luxembourg feeder fund for its Gulf money market fund and is exploring ways to offer a Saudi-specific product to international investors, its lead fund manager said. Sedco Capital, which manages and advises $3.8 billion of assets, is strengthening its in-house asset management capabilities before the planned opening of the Saudi stock market to direct foreign investment in the first half of 2015. Last week the firm launched a Saudi-domiciled money market fund which invests in sharia-compliant structured products and trade finance transactions, said Yazan Abdeen.

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