SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has won top honors in four categories at the 2021 Global Investor Group MENA Awards for the exemplary performance of the Bank’s asset management and brokerage teams. SICO was named the MENA region’s Sukuk Manager and Equities Asset Manager of the Year, as well as Bahrain’s Asset Manager and Broker of the Year. The recognition comes on the heels of multiple awards received by SICO in 2021 and attests to SICO’s solid track record and ability to deliver to its clients healthy risk-adjusted returns over the long term.
“We are extremely proud to win these four awards and to maintain our leadership position not only in our home market of Bahrain but also regionally. To receive these accolades, among the most prominent asset managers, brokers, and investment banks in the region, underscores the dedication and consistent track record of our highly professional and experienced team. These awards reinforce our reputation as a regional asset manager of choice for investors who are looking for investing in the region’s most promising markets and asset classes,” said SICO CEO Najla Al-Shirawi. “At SICO, we remain committed to diversifying our offering of unrivaled products and services. Through our new Saudi-based subsidiary, SICO Capital, we look forward to more success in achieving our clients’ investment goals.”
The bank’s total assets under management (AUMs) has increased organically and inorganically by 79% to reach USD 4.1 billion as at September 30, 2021 versus USD 2.3 billion recorded at year-end 2020.
In 2021, SICO’s Asset Management division saw its key funds consistently outperform their respective benchmarks. SICO’s flagship Khaleej Equity Fund achieved a 5-year gross annualized return of 20.4% outperforming the benchmark by 6.2% while the bank’s Kingdom Equity Fund achieved a 5-year annualized gross return of 24.9% vs the benchmarks annualized return of 19.8%. SICO’s Gulf Equity Fund achieved a 5-year annualized returns of 8.3% outperforming the benchmark by 1.7%.
In the fixed income sphere, SICO’s stellar performance as a sukuk manager and ability to navigate market volatility has earned it a top spot amongst regional fixed income players. The division’s flagship conventional fixed income fund generated 3-year annualized returns of 7.5% and 5-year annualized returns of 6.1%, while the fixed income Islamic fund generated 3-year annualized returns of 7.6% and 5-year annualized returns of 6.3%, both ahead of the index average.
SICO has also maintained its status as the leading broker on the Bahrain Bourse for 23 consecutive years providing clients with electronic trading option and a comprehensive product offering that includes equities, bonds, and sukuks across the GCC and wider MENA region, SICO also provides research that facilitates clients’ making the right investment decisions. The brokerage team continues to demonstrate outstanding trading services offered to a growing client base with direct presence in three GCC markets, namely Saudi, United Arab Emirates and Bahrain.
Earlier in the year, SICO received numerous accolades including:
- Bahrain's Best Investment Bank by Global Finance
- Best Investment Bank in Bahrain by Euromoney Awards
- Number One Broker on the Bahrain Bourse (“BHB”)
- SICO Financial Brokerage awarded 5 Star rating from the DFM for 2020
- The Middle East’s 30 Biggest Asset Managers 2021 by Forbes Middle East
- Asset Management Company of the Year Bahrain 2021 by Global Banking and Finance
- Best Investment Bank Bahrain 2021 by Global Banking and Finance
- Best Securities Brokerage Bahrain 2021 by Global Banking and Finance
SICO previously won MENA Fixed Income Manager of the Year and Bahrain’s Asset Manager of the Year at the 2020 Global Investor Group MENA Awards.
SICO is a leading regional asset manager, broker, market maker and investment bank, with USD 4.1 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 Saudi-based investment banking company, SICO Capital. 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.
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Direct Tel: (+973) 1751 5017
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.