GIB UK fund wins top ranking
Manama, May 7, 2009
A Gulf International Bank (UK) fund has won top ranking from a global agency.
Global fund ranking service Morningstar has ranked the Falcon High Yield Defensive (FHYD) Fund amongst the best-performing funds in the US dollar high-yield funds category on a one-year, three-year, and five-year annualised return basis.
Morningstar has assigned an overall "five-star" rating for the fund, one of a number of products offered by Gulf International Bank (UK) Limited, a subsidiary of Gulf International Bank (GIB).
Only 10 funds out of the 441 in the dollar high-yield funds category have been awarded this highest rating.
The FHYD Fund was ranked first in the one-year return category and second in the three-year annualised return category as of January end.
The FHYD Fund outperformed the best-performing fund from the 405 Lipper-rated US dollar high-yield funds on a five-year return basis.
It also outperformed all but two other funds in the Lipper database on a one-year and three-year annualised basis.
"The long-term consistent performance of the fund illustrates the depth of our asset management capabilities and the expertise of our fund products team," GIB (UK) head of asset management Robert Sargent said. – TradeArabia News Service