SINGAPORE — A new fund is betting on improving performance of MICE stocks as the sector emerges from the impact of Covid-19. The Arena MICE Equity fund’s portfolio will consist of publicly listed MICE and sector-related stocks.
The fund, available through Abacus Capital, plans to invest in up to 20 stocks listed on major global stock exchanges and hopes to attract $100 million of investment in its launch year. The focus will be on large companies with strong balance sheets and the ability to grow their market share globally.
The fund is led by an advisory board, Exhibition International Investment Partners Pte Ltd, comprising CEOs and business leaders from the MICE sector, each with over 20 years of experience leading international businesses. Founders include David Audrain, CEO and Partner of ExpoDevCo and CEO of the Society of Independent Show Organizers (SISO), who will advise on the North America region.
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“The trade fair industry has suffered greatly and is still suffering today from the Covid-19 pandemic. I have been saddened to see many companies laying off staff and suspending their valuable activities, which are essential to global trade,” said Bjoern Kempe, Senior Advisor and Chairman of EIIP. “I believe that the establishment of the fund that invests in listed companies active in the MICE sector can not only support struggling companies and provide them with capital, but more importantly, the fund will draw attention to this very important industry.”
Abacus Capital is an Asian investment management group headquartered in Singapore.
Contact Bjoern Kempe on +65 6622 5386