Global Finance names NBK Best Provider of Money Market Funds in the Middle East 2011

Nabil Maroof, Managing Director of Asset Management at NBK Capital

National Bank of Kuwait (NBK), the highest rated bank in the Middle East, was recognized as Best Provider of Money Market Funds in the Middle East 2011 by the world renowed financial magazine “Global Finance”. This accolade comes as a result of the performance of Watani KD Money Market Fund, which is managed by NBK Capital.

NBK is the only Middle East and Arab bank to be enlisted among the World’s Best Provider of Money Market Funds along with major international financial institutions such as J.P. Morgan Asset Management, Standard Bank, and DB Advisors.

“Global Finance” said that the reason for the recognition is that “the fund posted strong cumulative and annualized returns well above industry benchmarks since the fund was started.”

The Watani KD Money Market Fund is one of several funds managed by NBK Capital for NBK. The fund was launched in 2002 and has since then provided excellent returns for investors with a cumulative return since inception of 35.3% and an annualized return since inception of 3.5%.

Nabil Maroof, Managing Director of Asset Management at NBK Capital, stated, “we are very proud to be recognized as the leading providers of Money Market Funds in the Middle East region. This recognition comes following the exceptional performance of our Ijara funds and equity funds for 2010, and helps establish NBK Capital as the leading destination for regional investors.”

The Watani KD Money Market Fund is one of five Money Market Funds provided by NBK Capital. Subscription and redemption to all Money Market Funds is on a weekly basis and the minimum investment for the Watani KD Money Market Fund is KD 25,000.he National Bank of Kuwait (NBK), the best bank in the Middle East, held an Investment Forum for its Thahabi clients at Regency Hotel on Tuesday, March 22^nd, 2011.