Kuwait: Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, announced that its Kamco Premier Market Index Fund was awarded the “Best Equity Fund in Kuwait” by MENA Fund Manager, one of the leaders in recognizing and rewarding the performance of MENA based funds and asset managers in the region.
The award was presented to the Company at a ceremony held in Dubai on Wednesday, 29 January 2020, with the presence of regional specialists in the fields of asset management and investments. Salah Al Wuhaib, Senior Executive Director of Equity and Fixed Income at Kamco Invest, received the award on behalf of the Company.
During 2019, the fund achieved a return of 34.88%, outperforming the All-Share Market Index and the Premier Market Index, which achieved 23.7% and 32.4%, respectively. The fund was the best performing amongst all equity funds that invest in the Kuwaiti market in 2019.
The Kamco Premier Market Index Fund has achieved a return of 463.4% since its inception in the year 2000, outperforming its benchmark, the Premier Market Index TR, which achieved a return of 265.7% by over 197.7%. The fund also outperformed the benchmark’s three and five-year performance by achieving returns of 74.2% (69.2% for the benchmark) and 50.7% (37.3% for the benchmark), respectively.
Commenting on the award, Al Wuhaib said, “We are proud to have received this recognition which reflects our continuous effort to provide our clients with high-quality products and services. The fund earned this award due to its outstanding performance since inception, especially during the year 2019.”
He added, "Our investment philosophy and strategic approach in fund management are key factors that have contributed towards the fund achieving returns that exceed its benchmark."
It is worth mentioning that the Kamco Premier Market Index Fund aims to grow the invested capital by investing in companies listed on Boursa Kuwait’s Premier Market Index based on market capitalization, and according to their market share in the index.
Al Wuhaib concluded by thanking the Asset Management Team, whose efforts and hard work paid off with the positive performance achieved by most of Kamco Invest’s funds in outperforming their benchmarks.
© Press Release 2020