NBK Kuwait Equity Fund ranked first among funds investing in the Kuwait Stock Exchange in 2010
NBK Capital announced that the NBK Kuwait Equity Fund was ranked first as the best performing fund in a comparison that included 38 funds of equities listed in the Kuwait Stock Exchange. The fund achieved a 42.5% return for the year and maintained its status as the best performing fund for the fourth quarter in a row, according to figures posted on Zawya.
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 achieved a 42.5% return since the beginning of 2010 until the end of last December, significantly surpassing the performance of the Kuwait Stock Exchange for the same period, which registered -0.71% for the price index and 25.5% for the weighted index.
Salah Y. Al-Fulaij, CEO 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. Al-Fulaij stated, “The consistency in performance shown in being the best fund in every quarter of 2010 is due 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 Qatar Equity and the NBK Gulf Equity Fund, which achieved a return of 32.67% and 15.56% during 2010, respectively. Subscription and redemption to NBK Kuwait Equity Fund is on a weekly basis and the minimum investment is 1,000 dinars.
National Bank of Kuwait
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