During the month of November, Global 10 Large Cap. Fund was the only fund with positive performance among comparable funds, which reflects the value of exceptional investment funds with viable strategies and their ability to achieve high and stable returns despite market fluctuations, Global Investment House “Global” said today.
Mr. Bader AL-Sumait, Executive Vice-President at Global, said that the fund achieved high and stable returns since its inception in November 2000 until last November, exceeding Global market index.
"With year end approaching, and once companies distribute profits or dividends, it will also reflect on the fund’s performance and net asset value," added AL-Sumait.
The minimum investment in the fund is 1,000 units, and investors can enjoy low management fees of ½% in comparison to the other funds and direct investments in the Kuwait Stock Exchange (KSE).
The fund has high liquidity as subscription and redemption are on a weekly basis. In addition, the ten companies that comprise the fund are high performers, which reflect superior returns for fund subscribers.
AL-Sumait confirmed that those factors have reflected on the fund’s performance, as it was the only fund in Kuwait with positive performance, despite recent bearish market conditions.
The fund witnessed outstanding growth since inception with returns of 358.41% until November 2006, with an average annual return of approximately 60%, surpassing comparable funds and the market index.
It is worth mentioning that the net asset value of Global 10 Large Cap. Fund is KD4.584 (Nov. 2006), according to the latest evaluation.
AL-Sumait continued by saying that the fund has sustained its exceptional performance since the middle of this year posting a 1.21% performance compared to the other Kuwaiti equity funds.
He followed by saying that one of the benefits of investing in this fund is that the investor is able to tap into the solid performance of the ten largest companies listed on KSE in a single transaction, rather than 10 separate costly ones.
The positive profits, lower risk, and the performance of the fund prove it, AL-Sumait concluded.
