NBK Kuwait equity fund gets top ranking
Kuwait, January 16, 2011
NBK Capital's Kuwait Equity Fund has been ranked as the best performing fund out of 38 funds of equities listed on the Kuwait Stock Exchange.
The fund achieved a 42.5 per cent return for the year and maintained its status as the best performing fund for the fourth quarter in a row, according to figures posted on Zawya.
The NBK Kuwait Equity Fund is managed by NBK Capital, and seeks long-term capital appreciation by investing primarily in stocks listed on the Kuwait Stock Exchange. The Fund achieved a 42.5 per cent return since the beginning of 2010 until the end of last December, significantly surpassing the performance of the Kuwait Stock Exchange for the same period, which registered -0.71 per cent for the price index and 25.5 per cent for the weighted index.
“The consistency in performance shown in being the best fund in every quarter of 2010 is due to the efficiency of the management team and the successful strategies implemented by the fund manager. These strategies are a reflection of NBK Capital’s long term strategy, which seeks to provide the best services and products to customers,” stated Salah Y Al-Fulaij, chief executive at NBK Capital.
NBK Kuwait Equity Fund is one of three local and regional equity funds managed by NBK Capital, which include the NBK Qatar Equity and the NBK Gulf Equity Fund, which achieved a return of 32.67 per cent and 15.56 per cent during 2010, respectively.-TradeArabia News Service