Kuwait: 07 December 2010 - Global Investment House announced today that Standard & Poor's Fund Services has assigned an A fund management rating to the Global 10 Large Cap Index Fund. The S&P fund ratings are a widely acknowledged measure of excellence, with A rating awarded only when the fund demonstrates high standards of quality based on its investment process and consistency of performance.

Managed out of Kuwait since launch in November 2000 and with assets under management of USD 308.5 million, the Global 10 Large Cap Index Fund is one of the oldest and largest funds in the GCC. The fund aims to fully replicate the Global 10 Large Cap Index, a price return index of the 10 largest stocks in Kuwait by market cap with no free float adjustment.

Despite not being allowed to use ETFs or derivatives, the team has managed to track the Global 10 Large Cap Index fairly closely, in particular considering that the index is rebalanced more frequently than is the case for peers.  Importantly, this has been achieved while maintaining a highly competitive fee structure.

"Fund manager, Ammar Talib Hajeyah works closely with two traders to keep deviations to a minimum.  We welcome the fact that the tracking error has decreased significantly in the recent months.  This, coupled with the attractive fee structure and stable approach, justifies an S&P A fund management rating," said Roberto Demartini, lead analyst at S&P Fund Services.

Commenting on the S&P rating, Shahid Hameed, Head of Asset Management - GCC at Global Investment House (Global), added, "We are proud to have the first rated index fund in the region. The rating is a testament to Global's asset management capabilities in regional markets and our ongoing commitment to our clients."

Global has a history of being recognized as one of the leading asset management and investment banking firms in the region, offering a wide spectrum of investment services to institutional and retail clients. Earlier in the year, two other funds managed by Global, the Global GCC Large Cap Fund and the Global GCC Islamic Fund, were also awarded the S&P A Rating. The individual fund report can be downloaded from the Standard & Poor's Fund Services website at www.fundsinsights.com

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Global Investment House (Global)
Global Investment House is a Kuwaiti investment company licensed by the Central Bank of Kuwait and listed on the Kuwait, Dubai, Bahrain and London Stock Exchanges.

Since its inception in 1998, Global has effectively provided investment solutions to its wide client base and played a noticeable role in the development of the regional capital markets.

Our business philosophy is to build distinguished relationships with our clients, business partners, shareholders, and staff based on professionalism and trust resulting in stronger returns to all parties involved.

At Global, we strive to develop and market high quality, value added, consumer-preferred financial products and services that exceed our clients' expectations. The company's wealth management teams personally cater to the clients' requirements on a one-on-one basis and provide them with financial solutions that best suit their investment needs.

© Press Release 2010