Global Local and Global Al-Ma’amoun Funds are the best performing funds among their peers
• Mr. Al-Sumait: We seek to offer our clients the best investment opportunities
Global Investment House (Global) announced today that two of its managed funds, the Global Local Fund and the Global Al-Ma’amoun Fund, have outperformed respective indices and peers in the Kuwaiti market for the first two months of 2009. The Global Al-Mamoun Fund recorded -9.65% decline compared to a decline of -21.13% recorded by the Global Kuwaiti Index, while the Global Local Fund recorded -9.94% decline compared to the decline of -20.45% by the Global General Index.
Mr. Bader Al-Sumait, Chief Executive Officer at Global said, “Global funds have outperformed their peers due to the efforts put by our Asset Management team in addition to the strategy and the stock selection process they follow”.
Backed by a team of experienced professionals, Global employs a team-oriented investment process driven by bottom-up fundamental analysis. The strategic goal is to add value to client portfolios while adhering to a disciplined risk control process. Value is identified through in-depth research, proprietary screens and frequent company visits.
The Global Al-Mamoun Fund aims to create value by investing in a diversified portfolio of stocks listed on the Kuwait Stock Exchange. The Fund adheres to a conservative investment strategy by investing in stocks with low volatility and high dividend yield.
In contrast, the Global Local Fund follows a relatively aggressive investment strategy as it seeks capital appreciation by investing in stocks listed on the Kuwait Stock Exchange with a robust growth outlook and strong management.
The Asset Management division at Global manages over USD 8 billion on behalf of its clients through funds and portfolios. Global manages 38 funds with different strategies which have outperformed their respective indices and some have received local and international awards and recognitions.
Mr. Al-Sumait concluded, “We seek to continuously provide our clients with added value by focusing on our core businesses that include Investment Banking, Asset Management and Brokerage. We will work very hard to offer our clients the best investment opportunities backed up by the highest level of service to meet or exceed their expectations.”
