Averageincrease inreal estateoccupancy rateto96%by the end ofOctober 2015 and growth ofthe Fund's assets valueby 87%since inception
Kuwait City: KAMCO, announced today that its KAMCO Real Estate Yield Fund (KREYF) has successfully distributed cash dividends of 1% to investors for the third quarter of 2015, reaching a total of 3.7% since inceptionin April 2014.
The KREYF Fund, was able to reach aweighted average occupancy rate of 96% and growth of the Fund's size by 87% since inception which demonstrates the market demand for such income-generating products. In addition, the Fund managed to increase its rate of return since inception to 4.03% by the end of October2015.
KREYF, which is one of the first local funds in Kuwait to receive CMA approval for fund raising in late 2013, where the fund was established in April 2014 upon completion of the establishment process and obtaining the required seed capital. The fund aims to invest in income-generating real estate investments in the GCC region, Egypt, Lebanon, Jordan and Morroco, which enables investors to deploy their excess cash to obtain higher returns than bank deposits with the opportunity to liquidate such investment through a redemption option. KREYF consists of six core investments with a total of 162 number of units with targeted markets including the Kingdom of Bahrain, United Arab Emirates and the Kingdom of Saudi Arabia.
A Prudent Investment Strategy
Mr. Khaled Fouad, Chief Investment Officer at KAMCO said, "The fund, which is US Dollar dominated with a minimal subscription of 5,000 units at the subscribed month's NAV per unit, provides the investor with an option to redeem units semi-annually upon the end of a one year lock-in period."
Mr.Fouad added, "To ensure that we increase the investment returns of investors, KAMCO continues to provide varied investment opportunities that are low-risk and income generating. KREYF is characterized by its prudent investment strategy, aiming to generate steady cash flows during the investment period, via the distribution of quarterly cash dividends. "
KAMCO website www.kamconline.com provides more information on the prospectus and articles of association of the Fund as well as all contact details necessary for investors. KAMCO representatives can be reached at 185 26 26.
-End-
About KAMCO
KAMCO Investment Company is a premier investment company based in Kuwait that is regulated by the Capital Markets Authority with one of the largest private sector AUMs in the region.
Established in 1998 and listed on the Kuwait Stock Exchange (KSE) in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB) and the asset management and investment banking arm of Kuwait Projects Holding Company (KIPCO).
It has become a leading regional company within its sector offering innovative products and services for its clients, holding over USD 12 billion of client AUM and over 82 of successfully completed investment banking transactions worth over USD 12 billion as of 31 December 2014.
After many years of conducting business in Kuwait's dynamic investment industry, KAMCO has successfully established a robust reputation for solidity, characterized by its prudent, conservative investment philosophy and spirit of transparency which has consistently commanded the goodwill of a wide patron-base.
The company will further aggressively build upon its core competencies to offer MENA-wide investment management consultancy and services, backed by its proven track-record in stringent risk mitigation, investment product innovation, and a cautious investment approach towards local, regional and international capital markets
© Press Release 2015
