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Kuwait - KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region and a winner of the prestigious Kuwait Asset Manager of the Year Award 2015, announced the official launch of the KAMCO MENA Plus Fixed Income Fund, after successfully closing an oversubscriptionof the initial fund capital.
KAMCO MENA Plus Fixed Income Fund, a fund approved by the CMA, offers relatively high returns as compared to bank's short term deposit rate.The Fund provides investors an opportunity to invest in a portfolio of MENA conventional bonds and Islamic sukuk diversified by country, sector, issuer and credit structure.
This Fund is ideal for investors seeking diversified exposure to regional fixed income securities and monthly liquidity. Furthermore, the Fund aims to offer investors attractive levels of income with potential for capital gains over the medium term through investment tools that can be traded and are denominatedin USD or other main currencies in the MENA region.
From another angle, KAMCO has assigned Burgan Bank as the distribution agent for the Fund in order to reach a larger potential client base and to provide the most efficient methods of fund subscription.
Senior Vice President of Client Relationship and Marketing at KAMCO, Ms. Sana Al Hadlaq said, "The launch of this Fund falls in line with KAMCO's strategy in offering a diverse pool of unique investment products and services for the investors. As well, our agreement with Burgan Bank aims at expanding our client base and list of fund subscribers."
AlHadlaq added, "In order to facilitate the process of investments within KAMCO, the Client Relationship and Marketing team managed to provide advisory services as well as financial facilities for their investors to guarantee optimal client relations and growing investment returns."
She also highlighted, "KAMCO is always on the lookout for promising investment platforms with attractive returns which reflects positively on the fund investors. Being a risk-controlled fund, the KAMCO MENA Plus Fixed Income Fund focuses on securing an orderly liquidity plan for the investors during the full investment period."
The KAMCO MENA Plus Fixed Income Fund is an open-ended fixed income investment fund denominated in USD, with a variable capital of between USD 18 million to USD 500 million, and a minimum subscription of USD 10,000 (1000 units at USD 10 per unit).The lock-in period is set for the initial 6 months period from day of subscription, where the subscription and redemption remain monthly. Distribution is semi-annually at the fund manager's discretion.
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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 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
