Reducing our position in Almarai


We are reducing our investment position in Almarai by half. Our decision to reduce the exposure is based entirely on current valuation levels, hence our decision to retain the other half of our exposure. The share price is up 81.8% since we initiated our investment in the company.

Almarai remains one of the best managed companies in Saudi Arabia and indeed in the Middle East and North Africa (MENA) region, and it remains very well positioned for growth and for maintaining its market leading position.