Securities & Investment Company (Sico), the Bahrain-based investment bank, announced that two of its funds have won the Lipper Fund Awards for 2011.

The Khaleej Equity fund (KEF), sponsored and managed by Sico, has been awarded the ‘Best Equity GCC fund over 5 years’ and Al Aseel Islamic Equity Fund sponsored by Ithmaar Bank and managed by Sico has won the ‘Best Mena Equity fund in a 3 year category’.

Lipper announced the awards at the Lipper Funds Award ceremony held in Dubai recently.

“Finding first rate companies to manage client assets is an important concern among investors, and the Lipper Fund Awards recognise the groups that are the best in producing consistent and superior results relative to their peers,” said Dunny Moonesawmy, Lipper’s head of Research for Western Europe, Middle East and Africa.

The Lipper Fund Awards are awarded to funds in 23 countries in Asia, Europe, and the Americas. Lipper designates award-winning funds in most individual classifications for the three-, five-, and ten-year periods.

“This recognition given by Lipper is another testament to Sico’s prudent investment approach, characterised by superior stock picking and asset allocation,” added Anthony Mallis, Securities & Investment Company’s chief executive.-TradeArabia News Service