Leading regional banks nominated for top Islamic fund awards

Published February 3rd, 2008 - 01:38 GMT

World’s top fund managers to celebrate performance excellence at annual Failaka Islamic Funds Awards in Dubai

Two Kuwaiti investment firms, three United Arab Emirates-based banks, two Bahraini banks and five Saudi banks have been nominated for key industry award based their excellent fund performance in 2007.

Failaka, the industry leader in Islamic fund research, has been recognising the best performing Shariah-compliant funds for the past three years and have announced that the 3rd Annual Failaka Islamic Fund Awards will be held in Dubai on 24th March 2008.

Those nominated include amongst others, Kuwaiti investment firm National Investments Company (NIC), Emirates Bank International from the UAE, Bahrain-based Citi Islamic Bank and National Commercial Bank Capital of Saudi Arabia.

This year’s gathering of high profile global fund managers is set to be the
most successful to date, drawing more attention to the exciting growth and
broadening interest in Shariah-compliant investment funds.

The Failaka Awards have consistently set benchmarks for the performance of Shariah-compliant funds industry. The awards will highlight the achievements and innovations of fund families, fund managers, and individual funds.

This year's Failaka wards will feature two exclusive industry insights, one on exchange-traded funds (ETFs) and emerging-market funds and another on the Gulf Co-operation Council capital markets in 2008.

"The 3rd Annual Failaka Awards will adopt a new format this year,” said Mark Smyth, Managing Director, Failaka Advisors.  “In addition to recognising the best managers in this vibrant industry, now with over $17 billion assets, we will be adding two relevant sessions on ETFs and the industry's continued expansion into emerging markets. This will further consolidate the awards as the preeminent industry event for networking and product promotion,"

This year will also witness the addition of a number of important categories that include a one-year, three-year, and in some cases, a five-year performance award. This underscores the increasing transparency and availability of information from fund managers which has proved to be a catalyst for growth in the Islamic financial market generally.

Failaka will also showcase its new online database of more than 300 Islamic equity funds at the awards. For the first time, Failaka will be making available to institutions and individual investors all of their key data on fund objectives, geographic focus, net asset value, historical and current performance, on a state-of-the-art online platform.

“The online database is a superior investment tool and promises to be an exciting attraction for industry participants,” added Smyth.

Best Islamic Fund Manager (GCC) - Best Islamic Fund Manager (U.S) - Best Islamic Fund Manager (Asia) - Best Global Equity Fund (One-Year) - Best Global Equity Fund (Three-Year) - Best Global Equity Fund (Five-Year) - Best GCC Equity Fund (One-Year) - Best GCC Equity Fund (Three-Year) - Best European Equity Fund (One-Year) - Best European Equity Fund (Three-Year) - Best U.S. Equity Fund (One-Year) - Best U.S. Equity Fund (Three-Year) - Best Asian Equity Fund (One-Year) - Best Asian Equity Fund (Three-Year) - Best Malaysian Fund (One-Year) - Best Malaysia Fund (One-Year) - Best Balanced Fund (One-Year) -  Best Balanced Fund (Three-Year) -  Fastest Growing Fund (Three-Year) - Best Emerging Market Fund (One-Year)

About Failaka Advisors

In 1997, Failaka Advisors became the first organization to track and publish performance results for Islamic equity funds; that year, their first Islamic Fund Report included thirteen funds. Now, their Islamic Fund Database reports on the investment objectives, fund geography, top-ten holdings, and assets and performance of the more than 250 Islamic equity funds worldwide that report regularly to www.failaka.com



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