Al Ramz Corporation PJSC, a prominent financial services institution based in Dubai, has officially launched the initial public offering (IPO) for two new investment vehicles focused on the Gulf Cooperation Council (GCC) region. This strategic move is designed to provide investors with a sophisticated entry point into both regional fixed-income and equity markets. The launch comes at a pivotal time for Middle Eastern capital markets as institutions seek to institutionalize expertise and offer retail and institutional investors access to primary market opportunities that are often difficult to secure.
Businesses should pay close attention to these changes as they signal a shift toward more integrated asset management in the UAE..
Al Ramz Corporation’s 25-Year in UAE Capital Markets
Al Ramz Corporation was founded in 1998 and has built a 25-year legacy within the UAE’s capital markets. The company is a public joint stock company listed on the Dubai Financial Market (DFM). It operates under the regulation of the UAE Securities and Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA).
Historically, Al Ramz was primarily known for its brokerage services. However, the launch of these two funds marks a significant transition toward a vertically integrated asset management model. This evolution follows a period of exceptional financial performance; in 2025, the corporation reported a net profit of AED 48.20 million, representing a 202% increase from the previous year.
The new funds are managed through ARAM Capital, a wholly-owned subsidiary based in the Abu Dhabi Global Market (ADGM). This move aims to leverage the firm’s deep regional knowledge to meet the evolving needs of local and international clients.
How Al Ramz Is Targeting GCC Investors Through Two Distinct Funds?
Al Ramz has introduced two distinct products tailored to different risk appetites and financial goals: the Horizons GCC Sukuks Fund and the Fortitude GCC Equity Fund.
The Horizons GCC Sukuks Fund
This fund is a USD-denominated, Sharia-compliant investment vehicle. It is specifically designed for investors who prioritize capital preservation and stable income.
- Strategy: The fund focuses on investment-grade GCC sukuks (Islamic bonds).
- Duration: It follows a duration-led strategy with a weighted average maturity of approximately seven years.
- Target: It provides a “resilient anchor” in the fixed-income market by focusing on high-quality issuers with ample liquidity.
- Minimum Investment: Investors are required to commit a minimum of USD 10,000.
- Fee Structure: The fund carries a 1% annual management fee on the net asset value (NAV) and a 1% subscription fee, with no exit charges.
The Fortitude GCC Equity Fund
This AED-denominated fund is aimed at growth-oriented investors and takes a more aggressive approach to regional stock markets.
- Strategy: It utilizes a “benchmark-agnostic” strategy, meaning the managers are not restricted by traditional market indices and can move flexibly to capture opportunities.
- Target Return: The fund sets an absolute estimated return target of 8% per annum.
- Focus: It prioritizes active, risk-managed positioning in GCC equities and participation in regional IPOs.
- Liquidity: While it is an open-ended fund rather than an exchange-traded fund (ETF), it offers weekly liquidity and redemptions.
- Fee Structure: This fund includes a 1.25% management fee and a 20% performance fee on returns that exceed the 8% hurdle rate, plus a 1% entry fee.
For investors, this trend of active, benchmark-agnostic management is worth watching as market volatility remains high.
Investment Timing Strategy Behind Al Ramz’s Fund Launch
The launch of these funds occurs during a complex period for GCC markets. While the UAE and Saudi Arabia led regional IPO activity in 2025, the total value of those offerings nearly halved compared to previous years. Furthermore, geopolitical tensions, including conflict in the region, have created a temporary lull in listing momentum.
Why launch now during a market lull? Analysts suggest Al Ramz is playing the long game by “collecting dry powder”. By raising capital now, the funds will be ready to deploy significant assets once the backlog of regional IPOs begins to move again, which is expected in the second half of the year.
The primary selling point for the Fortitude GCC Equity Fund is its ability to “jump the primary market queue”. In the GCC, high-profile IPOs are frequently oversubscribed, often leaving individual or smaller institutional investors with little to no allocation. By pooling capital, Al Ramz aims to secure institutional-grade access to these primary listings for its fund participants.
Making Institutional Investing More Accessible in the UAE
The introduction of these funds provides a new level of accessibility for UAE-based investors. Historically, institutional-grade fixed-income and primary equity markets were often the domain of large sovereign wealth funds or major banks.
By making these funds accessible through the AlRamz digital app and website, the corporation is democratizing access to high-quality regional assets. This is particularly relevant for the Horizons GCC Sukuks Fund, as investment-grade sukuks often sell out in the primary market before they ever reach secondary trading platforms where individual investors could buy them.
For UAE businesses, this move reflects the growing sophistication of the local financial ecosystem. As firms like Al Ramz expand their asset management capabilities, it creates a more robust domestic capital market that can support further economic diversification.
Also Read: RZAM App – The AI-Powered Defense for UAE Digital Security | Cybersecurity
Who Ensures the Integrity of Al Ramz Investments?
To ensure performance and compliance with international standards, Al Ramz has engaged a suite of top-tier professional advisors.
- Custody Services: Emirates NBD Capital.
- Auditor: Deloitte & Touche.
- Legal Counsel: Al Tamimi & Co.
- Administrative Services: Apex Fund Services acts as the unit registrar and transfer agent.
- Sharia Supervision: Minhaj Advisory oversees the Sharia compliance of the sukuk fund.
These partnerships are intended to provide investors with the transparency and governance required for institutional-grade products.
External Risks Affecting GCC Equity and Sukuk Funds
Despite the strong performance of Al Ramz and the strategic design of the funds, several risks remain.
- Geopolitical Instability: Tensions in the Middle East can impact investor sentiment and cause delays in the IPO pipeline.
- Minimum Capital Thresholds: Both funds require minimum capital to launch—USD 5 million for the sukuk fund and AED 10 million for the equity fund. If these targets are not met during the first window, a fallback window is open until June 15, 2026.
- Market Volatility: The Fortitude GCC Equity Fund’s target of 8% is an estimate and not a guarantee, especially in a “benchmark-agnostic” model that relies heavily on active management decisions.
- Global Macroeconomics: Changes in global interest rates and inflation continue to influence fixed-income valuations and equity pricing across the GCC.
Final Words
Al Ramz’s new fund offerings reflect a broader shift in GCC investment management toward more structured, regionally focused, and institutionally governed financial products. By combining sukuk stability with equity growth potential, the firm is positioning itself to meet the evolving expectations of both retail and institutional investors. As regional capital markets continue to deepen and IPO activity gradually rebounds, demand for professionally managed vehicles with primary market access is expected to grow. Ultimately, Al Ramz’s strategy highlights how asset managers in the GCC are moving beyond traditional brokerage models toward more sophisticated, AUM-driven platforms that align with long-term market development.
FAQs – Frequently Asked Questions
Al Ramz has launched the Horizons GCC Sukuks Fund, which focuses on Sharia-compliant fixed income, and the Fortitude GCC Equity Fund, which focuses on regional stocks and IPOs.
The initial subscription period for both funds runs until May 13, 2026.
The Horizons GCC Sukuks Fund requires a minimum commitment of USD 10,000. Subscription details for the Fortitude GCC Equity Fund can be found on the Al Ramz app.
The Horizons GCC Sukuks Fund is specifically structured as a Sharia-compliant vehicle. The Fortitude GCC Equity Fund focuses on general regional equities.
Investors can subscribe directly through the AlRamz mobile application or the Al Ramz official website.
The Fortitude GCC Equity Fund targets an absolute estimated return of 8% per annum through active management.
Both funds are open-ended. The Fortitude GCC Equity Fund, for example, offers weekly liquidity and redemptions.
The funds are managed by the asset management team at Al Ramz, which includes professionals with over 120 years of collective experience in GCC financial markets.
Dwayne Paschke is a seasoned content strategist and AI automation specialist with over nine years of experience at the intersection of journalism and digital innovation. A versatile force in the media landscape, Dwayne has built a reputation as an expert content writer and investigative journalist, contributing high-impact pieces to various reputable news websites.
