Baring Asset Management is preparing to introduce its Middle East and North Africa (MENA) fund in the first quarter of 2010, Financial Times reports. The launch was first announced in July 2008, but was delayed due to unfavorable market conditions.

Ghadir Leil-Cooper, head of European, Middle Eastern and African equities, will be managing the fund, running as a paper portfolio at present. The fund, which will be benchmarked against the MSCI Arabian Markets ex Saudi Arabia Index, is aiming to have at least 70% of total assets in equities in the MENA region, adds Fund Strategy.

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