Tharwa funds rank top on Kuwait bourse
Kuwait, May 21, 2012
Tharwa Investment Fund and Tharwa Islamic Fund, leaders in asset management services, have achieved top positions for their performance since the beginning of 2012 on the Kuwait Stock Exchange.
Abdullatif Al-Muzaini, assistant vice president for local and Arab investment at Tharwa Investment Company, said: "This sustained outstanding performance by Tharwa’s funds comes as a fresh testament to the success of the strategy followed by us; a strategy that relies on selective and timely purchases of stocks.”
“Besides, seizing profitable investment opportunities has played a major role in achieving these positive results without resorting to risky speculation or quick profit taking."
Al-Muzaini pointed out that the positive financial results that have been achieved by Tharwa funds since the beginning of 2012 are the result of selective acquisitions focused on leading stocks which had posted positive results during the first quarter and are expected to see even better operational performance as well as cash dividends during the current year.
Tharwa Investment Fund’s performance saw a growth of 11.41 per cent over the period from the beginning of the year to the end of April, while Tharwa Islamic Fund achieved a performance posted 11.54 per cent during the same period.
Al-Muzaini went on to say that Tharwa Investment Fund offers an opportunity to achieve strong returns in the medium and long-term with relatively limited risks through trading in the Kuwait Stock Exchange as 41.82 per cent of that fund investments is focused on the real estate sector, with 27.18 per cent in the banking sector and 12.78 per cent in the services sector as at the end of April.
The fund hold shares of companies including Mabanee, Agility, National Real Estate Company, National Bank of Kuwait and Ahli United Bank.
As for Tharwa Islamic Fund, which invests in Sharia-compliant companies, the fund's investments are distributed as follows: 31.95 per cent in the banking sector, 19.06 per cent in the industrial sector and 13.06 per cent in the services sector as at the end of April.
The most outstanding stocks held by this fund are shares of companies including: Kuwait Finance House, Ahli United Bank, Boubyan Bank and Boubyan Petrochemical Company.
"In Tharwa, we always seek to offer the best services and products to our clients. Through our integrated team whose member’s conduct intensive research, studies and data analysis of stocks in which we invest. This enhances our investment decisions; which, in turn, show up on our performance and financial results," Al-Muzaini concluded. – TradeArabia News Service