KAMCO – (KIPCO Asset Management Company) – announced that it has assigned Burgan Bank as a placement agent for its KAMCO Real Estate Yield Fund (KREYF), which focuses on MENA-based income yielding real estate investments.
The placement agreement seeks to strengthen and enhance distribution, facilitate registration procedures and explore various placement options to increase investors’ reach in the fund. The fund is the first local fund in Kuwait to receive CMA approval for fundraising in late 2013.
Sana AlHadlaq, Senior Vice President of Client Relationship and Marketing Department at KAMCO said, “The placement agreement falls in line with the interest of investors, and aims towards expanding the company’s client base in the fund. The agreement will ensure a more efficient and effective procedure for subscription and will also maximize the size of the fund.”
AlHadlaq added, “Burgan Bank enjoys a broad range of recognitions that demonstrate its leading position as one of the most active commercial banks in Kuwait. It is the third largest bank in terms of assets, and is highly known for its employees who enjoy professional expertise in communicating with clients and investors. In addition, the bank is amongst leading ranks in providing private and corporate banking services. The placement agreement will bring forward a more extensive client base, in addition to retail and private banking services.”
KAMCO continues to facilitate investment procedures as well as the process of communication and close relations has allowed the Client Relationship & Marketing department at KAMCO to offer excellent services that assist and advise investors with quality services alongside growing investment returns.
The fund aims to invest in the real estate sector directly and indirectly and sells, buys and leases locally and regionally specifically in the income generating real estate properties arena.
The robust dynamics of the sector have motivated KAMCO to launch such a fund that primarily focuses on investing in unique low-risk real estate assets that have attractive returns, while simultaneously aiming to generate steady cash flows during the investment period via the distribution of quarterly cash dividends.
“The real estate sector is a fundamental component in every investment portfolio, as it has proved to be a stabilizing factor during challenging times, especially the income yielding real estate investments. KAMCO is committed to developing and providing access to diversified investment products in the local market which contributes to the growing stability of the economic and investment environment in Kuwait,” AlHadlaq said.
The new fund is in line with KAMCO’s strategy of launching an array of new and attractive investment products to serve its growing client base. KREYF is an open-ended real estate investment fund denominated in USD, with a variable capital ranging between $18,000,000 to $550,000,000.
KAMCO’s KREYF remains open for the semi-annual registration period ending on the 29th of June, for those interested in achieving returns on investment in the real estate sector and investments in areas of durability and growing economic prospects.