Manama, Bahrain, 11 June 2014: Bahrain-based regional investment bank, Securities & Investment Company (SICO), announced today that its flagship Khaleej Equity Fund recently completed the first 10 years of operation since being launched at the end of March 2004. The Fund, which seeks long-term capital appreciation by investing principally in equity securities listed on GCC stock markets, is one of the oldest, best-performing and highest-rated funds in the MENA region.
Since inception, the Fund has achieved a return of 203.9 per cent compared with 77.4 per cent by its benchmark, the S&P GCC Composite Index, and has outperformed the index for the past seven consecutive years. Its annualised return over the past 10 years has been 11.7 per cent versus 5.9 per cent by the index, and it has consistently ranked in the top quartile of its peers. At the end of its first 10-year period, the Fund posted its highest-ever NAV of US$ 303.89. Saudi Arabia and the UAE comprised 70 per cent of the Fund’s allocation to GCC countries.
The full press release in English can be downloaded here
The full press release in Arabic can be downloaded here