KFIC equity fund posts 20pc return
Kuwait, February 10, 2014
Kuwait Finance and Investment Company (KFIC) said its Al-Bashaer GCC equity fund has attained an annual return of 20.02 per cent.
The company’s Al-Wasm fund marked an annual return of 7.91 per cent, said a statement.
Marwan Al-Gharaballi, executive vice president head of Assets Management Division, stated: “KFIC offers various investment solutions in an attempt to cater to investors and clients from different segments. As Al-Bashaer fund seeks to invest in medium to long-term capital appreciation.
“It aims primarily to invest in the shares of GCC-listed Shari'ah compliant companies. Al-Bashaer fund investments are significantly concentrated in the industrial sector, followed by the banking sector, and subsequently the telecommunications sector.”
“On the other hand, Al-Wasm fund allows clients to invest in equities listed on Kuwait Stock Exchange, The most substantial sectors in which the fund invests in, are mainly the banking sectors, followed by real estate sectors, and subsequently the industrial sectors,” he added. - TradeArabia News Service