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Burgan Bank’s Equity Fund records positive performance in 2013

: Sunday, February 09 - 2014 @ 11:58

Burgan Bank announced that its Burgan Equity Fund has recorded a positive performance in 2013. The fund achieved an annual return of 8.98% compared to 8.43% for the Kuwait Stock Exchange Weighted index.

The Burgan Equity Fund enjoys a balanced investment policy which aims at long term capital gains with minimum possible risk to accommodate the fund’s nature. The fund invests across a wide range of sectors such as consumer services (1.19%), oil & gas (1.44%), telecommunications (5.50%), basic materials (6.32%), consumer goods (6.81%), real estate (14.47%), financial services (14.81%), industrial (20.10%), along with banking (29.36%).

An annual review of the long term asset allocation is made each year to reflect the updated fundamental and technical parameters.

Mr Salem Abdul Mohsen Al Haroon, Head of Investments at Burgan Bank, said: “We worked very closely with KAMCO – the fund’s external investment advisor – to develop and implement a long term asset allocation strategy. The fund’s balanced approach and its long term philosophy of investing based on a top down research approach are the two main contributors to these returns.”

The Burgan Equity Fund is amongst the bank’s varied investment tools that specifically targets investors seeking exposure to Kuwaiti stocks.

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Sunday, February 9- 2014 @ 11:58 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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