KFIC achieves outstanding performance in GCC markets during the first quarter
Kuwait Finance and Investment Company (KFIC) has revealed the outstanding performance of the first quarter of 2014 in the GCC stock markets. Where some portfolios remarkably ranked high returns of 14% during the first quarter of the year by the Asset Management Division.
In this context Al-Bashaer GCC equity fund significantly attained 10% return in the first quarter of 2014. It is noteworthy that Al-Bashaer fund seeks to invest in medium to long-term capital appreciation. Also, it aims primarily to invest in the shares of GCC-listed Shari’ah compliant companies. Al-Bashaer fund investments is focused this year on investing mainly on the industrial and banking sector.
On the same level in terms of local market, Al-Wasm fund marked a return of 7.54% since the beginning of 2014. Al-Wasm fund aims to increase the capital through investing in equities listed on Kuwait Stock Exchange.
In this regard Fahad Abdulaziz Al-Jarallah- Head of GCC Equity Markets – Asset Management Sector stated: “The outstanding performance of KFIC funds that was demonstrated this year, comes as a result of the hard work of the Asset Management Division. As we are keen to seize fruitful investment opportunities that achieve high profitability for customers.”
Al-Jarallah then concluded: “KFIC offers distinctive and diverse investment funds to meet clients’ needs. We are eager to snatch unique investment opportunities, in order to revitalize the investments market and to provide productive high returns to our customers. Adhering to our current methodology will have a great future impact, and will surely be beneficial for us and for our clients as well.”