Global 10 Large Cap. is Awarded the “Best Fund Over Past Three Years” By Lipper-Reuters
Global Investment House "Global" announced today that Global 10. Large Cap. Fund has been awarded by "Lipper-Reuters" as the “Best Fund Over Past Three Years”. The Fund returned 66%, 6% and 39% for 2005, 2006 and 2007 respectively.
This is the second consecutive time that Lipper-Reuter’s awards the Fund. Last year the Fund was awarded the “Best Performing Fund in 2006”. It remains an attractive long term investment.
Mr. Omar El-Quqa, Executive President at Global said, “This award serves to reaffirm Global’s commitment to excellence and subsequently leadership in the market. The 10 Large Cap Fund has proven to be a cornerstone investment for investors looking to have exposure to the Kuwaiti market.
Since inception, the Fund has returned 621%. The 10 Large Cap Index , which the Fund replicates, represents the ten largest companies on the Kuwait Stock Exchange (KSE) by market cap. which is equivalent to 48% of the domestic market capitalization.
The award ceremony took place last Tuesday in Dubai, in which Global’s 10 Large Cap Index Fund was announced the winner for its category. This accolade only further proves the ongoing success of this Fund which underlies the strength of Global’s asset management capabilities in the regional markets.
He mentioned that the Fund is a versatile investment vehicle, with weekly liquidity, low management fees and a minimum investment of only 1,000 units making it an investment solution for a wide array of investors.
He added, the fund invests in the ten largest companies listed on the Kuwait Stock Exchange in terms of the market value, and in each month the ratio of investment is determined in each company.
The Fund is readjusted on a monthly basis, accounting for the ten biggest market cap companies who enter and exit the 10 Large Cap category. The investment policy and strategy reinvests all capital gain distributions and profits.
It is worth mentioning, the Lipper Fund Awards assesses all investment funds according to their market performance and risk adjusted returns.
The Lipper Award covers 21 countries in Asia, Europe and the United States, and includes the list of award winners from major corporations and international financial institutions.
