MENA Capital is a London-based investment management and advisory company. Founded in 2004 by Khaled Abdel Majeed, its main focus is the stock markets of the Middle East and North Africa region. The MENA Admiral Fund, which was launched in March 2006 was the first hedge fund to focus on the MENA region. We believe this represents a milestone in the development of financial markets in MENA given the implications for the development of a wider range of derivative instruments and risk management techniques in the region. While we are proud to be at the forefront of these developments, our focus continues to be fundamental analysis-based investing where the primary aim is to deliver attractive risk adjusted returns for our investors. The MENA Alchemy Fund which was launched in August 2010 is a long only version of the MENA Admiral Fund.