NBK Kuwait Equity Fund is the best performing fund in 2010
NBK Capital announced that the NBK Kuwait Equity Fund was the best performing fund in a comparison to 32 other all-sector funds of equities listed only in the Kuwait Stock Exchange. The fund achieved a +13.28% gain for the first half of the year, surpassing the Kuwait Stock Exchange's performance, in which the price index registered a -6.60% loss and the weighted index registered a +3.02% gain for the same period.
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 realized best in class returns achieving +13.28% gain for the first six-month period ending 30 June 2010.
Nabil Maroof, Managing Director of Asset Management at NBK Capital, stated "the achievement of the NBK Kuwait Equity Fund is evidence of the successful strategy pursued by the Fund, where its continued success is proven by the consistent ranking of the fund as the best performing fund for the first quarter in 2010 and again now for the first half of the year."
The Fund's management is based on sophisticated risk management systems and an emphasis on detailed analysis of the market. It carefully targets the best stocks after intensive research on listed companies and their stocks through regular visits to grasp a deeper understanding of the target companies' long term strategies.
Maroof reiterated that the Fund's success comes from 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 clients.
NBK Kuwait Equity Fund is one of three local and regional equity funds managed by NBK Capital, which include the NBK Gulf Equity Fund and the NBK Qatar Equity Fund. Subscription and redemption to NBK Kuwait Equity Fund is on a weekly basis and the minimum investment is 1,000 Kuwaiti Dinars.