The boom and bust cycle that has affected the Middle East and North African region (MENA) has caught investors out in the past, but it is why they are interested now, explains Roberto Demartini, associate director, funds services at Standard & Poor’s. He explains that 2007 was a good year, 2008 and 2009 were bad, but the region, which is mainly an infrastructure play, underperformed global emerging markets in 2010, meaning it is now undervalued.