Commercial Bank’s Al Waseela fund (F-Class) has won the prestigious “Qatar Equity Fund of the Year” award for 2013 at the Zawya MENA Asset Management Awards. The Al Waseela Fund (Q-Class) was also ranked the second best Qatar Equity Fund, completing a successful evening for Commercial Bank and EFG-Hermes at the awards ceremony held in Dubai recently.
Commercial Bank’s Al Waseela Fund (F-Class) is managed by EFG-Hermes and provides returns on a diversified portfolio of equities listed on the Qatar Exchange and GCC stock markets. Since its inception in April 2007, the Al Waseela Fund has gained 114.35%, achieving an impressive 30.8 % gain in 2013 and a further 16.68% gain this year up until June 2014.
Commercial Bank CEO, Mr Abdulla Saleh Al Raisi said: “This is the second year in a row the Al Waseela Fund (F-Class) has come first in its category amongst conventional Qatar Equity Funds. The Fund continues to perform exceptionally well for our customers and I congratulate EFG-Hermes on this award in their role as Fund Manager.”
The ranking system for the Zawya MENA Asset Management Awards was based on returns, risk, fees to returns and management style. The Awards are calculated on an annual basis and have a set of fixed criteria for a Fund to take part in the analysis including a minimum size of USD 5 million and a minimum 3-year track record.
Zawya provides news, research and data on the MENA region capital markets and is part of Thomson Reuters, a leading source of intelligent information for business and professionals.
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