KAMCO wins ‘Kuwait Asset Manager of the Year’ Award
KUWAIT: KAMCO, a leading investment company with one of the largest AUMs in the region, announced today that it has won the prestigious Kuwait Asset Manager of the Year Award from MENA Fund Manager Magazine (MENA FM), specialized in asset management in the MENA region.
KAMCO’s success was recognized at the MENA FM award ceremony held in Dubai, for its strong performance in the asset management sector in addition to its large AUM in the region.
KAMCO’s MENA Asset Management team, Talal Al-Nafisi, Vice President and Ljubomir Krispinovic, Assistant Vice President, accepted the award on behalf of the Company.
KAMCO CEO Faisal Sarkhou said, “The growth of KAMCO’s AUM by 24% played a big role in winning this award reaching around $12.1 billion as at the end of Q3 2014 $10 billion at the end of Q3 2013. KAMCO managed to remain unwavered during challenging times due to its strategic approach and distinct investment performance levels.”
Salah Al-Wuhaib, KAMCO’s MENA Asset Management’s Senior Vice President also said, “This award reflects KAMCO’s robust position in the local and regional asset management markets, and one which can be attributed to the team’s efforts and expertise. The award will serve as a motivation to continue offering optimal services to our investors and clients.”
Al-Wuhaib added, “Despite geopolitical circumstances and the drop in oil prices, KAMCO continues to hold a solid position within the asset management sector backed by a skilled team. He also mentioned that the position of strength prepares KAMCO for achieving many more awards in the future.
KAMCO successfully launched the KAMCO Real Estate Yield Fund in March 2014 which focuses on investing in unique low-risk real estate assets that have attractive returns in the GCC and MENA regions. KAMCO is also in the process of promoting the KAMCO MENA Plus Fixed Income Fund which aims to offer investors attractive levels of absolute income with potential for capital gains over the medium term, and achieve relatively high returns as compared to returns of the bank short term interest by primarily investing in a portfolio of MENA Conventional bonds and Islamic Sukuk. DI approves 60% buy
of Al-Mal Capital DUBAI: Dubai Investments said yesterday its board had approved the acquisition of a majority stake in investment firm Al-Mal Capital. DI will purchase 60 percent of the financial firm that manages assets and offers investment banking services. Al Mal shut down its brokerage unit in the fallout of the 2008 financial crisis. In January, DI said it was close to two acquisitions, worth a combined value of 400 million dirhams ($109 million). This included a financial and a real estate firm. The board proposed a higher dividend for 2014 - 12 percent cash and 6 percent bonus shares. This compares with a 7 percent cash dividend and 7 percent bonus shares in the year earlier period.