SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has announced that its Sovereign & Quasi Sovereign Fixed Income Strategy has been named the Best MENA Fixed Income Fund Strategy by the Bonds, Loans & Sukuk Middle East Awards 2023.

SICO’s CEO, Najla Al-Shirawi, commented on the award saying, "We are honored to have received this prestigious award, which acknowledges our leadership in the asset management industry and recognizes the exceptional flagship strategy of SICO. I attribute this success to the unwavering dedication and expertise of our team, who have always delivered exceptional results for our clients, even in challenging market conditions. We are grateful for the trust our clients have placed in us, and we remain committed to serving them with innovative and expert solutions. Our team takes great pride in this achievement, and we will continue to strive towards exceeding our clients' investment goals. With our extensive presence in Bahrain, the UAE, and Saudi Arabia, we are well-positioned to serve our clients and capitalize on the opportunities in the GCC region."

"Our fixed income strategies have consistently achieved exceptional results, consistently ranking in the top quartile against their respective benchmarks. Our flagship SICO Fixed Income Fund outperformed its benchmark by 6.9% in 2022, while our GIPS Compliant Sukuk Strategy came out on top versus regional peers on a one-year, three-year, and five-year basis, generating a total net return of 23.23% over the last five years,” said Ali Marshad, Head of Fixed Income at SICO.

The Bonds, Loans & Sukuk Middle East Awards has been recognising the most innovative and ground-breaking deals from sovereign, corporate, and financial institution issuers, borrowers, and investors in the Middle East since 2014. The awards celebrate the exceptional performance of financial institutions and professionals who have demonstrated excellence in various categories. SICO Asset Management was honoured for its exceptional work and dedication to providing exceptional fixed income strategies in the MENA region.

"Congratulations to SICO on this well-deserved recognition," said Alex Johnson, CEO of GFC Media Group. "Their conviction to delivering excellent fixed income strategies in the MENA region has been commendable. This award is a testament to their expertise, innovation, and dedication to excellence in serving their clients.". The Bank's assets under management (AUM) increased by 5% to reach USD 5 billion at the end of the first quarter of 2023 ,on the back of the introduction of new offerings and services.

About SICO
SICO is a leading regional asset manager, broker, and investment bank, with USD 5 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees three wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Financial Brokerage, a specialised regional custody house, SICO Fund Services Company (SFS), and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 100 exceptional employees.

Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Direct Tel: (+973) 1751 5017