NBK Kuwait Equity Fund is the best performing fund in 2010
NBK Capital announced that the NBK Kuwait Equity Fund achieved a 20.9% return for the first quarter of the year, surpassing the Kuwait Stock Exchange’s performance, in which the price index registered a 7.54% gain for the same period. The fund was the best performing fund in a comparison with 33 funds focusing on Kuwaiti equities according to Zawya, the leading economic resource in the region.
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 20.9% for the first three month period ending 31 March 2010.
Nabil Maroof, Managing Director of Asset Management at NBK Capital, stated that the achievement of the NBK Kuwait Equity Fund is evidence of the successful strategy pursued by the Fund. This is based on a comprehensive study of the market and then carefully selecting the best stocks after intensive research on the share and the company through regular visits to grasp a deeper understanding of the target companies’ long term strategies. In addition, the Fund's management is based on sophisticated risk management systems to avoid high-risk stocks.
Mr. Maroof reiterated that the Fund’s success is mostly linked to 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 customers.
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 dinars.
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