NCB Capital, the largest investment bank in Saudi Arabia and the GCC's leading wealth manager, is delighted to announce that it has been named Best Asset Manager at the fifth annual Islamic Business and Finance Awards. The award, presented in Dubai on 21stDecember at the Emirates Towers Hotel, recognises exceptional performance and development work in Islamic fund management.
Commenting on the award, Hamed Fayez, Head of Asset Management at NCB Capital, said, "We are delighted to receive this prestigious honour in what has been a very challenging year for the industry. Recognition such as this is important in reinforcing our market leadership, as we build a competitive edge through some of the best performing funds in the industry."
NCB Capital's asset management strategies include hedge fund-of-funds, fixed income, money market and local equities and it is Saudi Arabia's largest provider of Sharia compliant funds with 28 mutual funds and 37 percent market share. As a result it is the world's largest Shariah-compliant asset manager.
Dominic De Sousa, Chairman of CPI Financial, publisher of Islamic Business & Finance magazine, said, "Since their inception, the Islamic Business and Finance Awards have been setting the benchmark for successful Islamic financial institutions and experts from around the world and the region. These awards highlight the phenomenal performance and development of the Islamic finance industry."
A pioneer in Islamic investment products, NCB Capital launched the world's first Sharia-compliant real estate fund and is the first Saudi bank to provide its clients with hedge funds and tailored structured products.
In addition to being the largest asset manager in the region, NCB Capital has some of the best performing Equity funds, including its flagship Al Ahli Saudi Trading Equity Fund, winner of a Lipper Award for its superior performance over 10 years in the Equity Saudi Arabia category, and the ever growing segregated accounts it manages for the top local and regional institutional clients and family offices.