Securities & Investment Company (SICO), the Bahrain-based regionally-focused investment bank, today announced that its flagship fund, Khaleej Equity Fund has been ranked first in the “GCC Equity Conventional” category while SICO Gulf Equity Fund, a GCC ex Saudi fund ranked Second by Zawya, the preeminent Dubai based web financial portal. SICO’s funds have constantly been amongst the top ranked funds ever since Zawya started these rankings.
The ranking follows a rigorous process of quantitative research, analysis and deliberation by Zawya analysts. The Fund’s ranking factors in its template returns, volatility, compliance and fees. Pamela Chikhani, Vice President – Head of Mutual Funds for Zawya, said: “ SICO Khaleej Equity Fund is one of the most compliant and transparent funds available in the GCC and given that Zawya Funds Ranking methodology stresses on that factor, the fund excelled among its peers and scored the top position in its category.”
The Khaleej Equity Fund, managed by SICO’s asset management arm, recently closed its sixth year, with a gain of over 90% since its inception in 2004. The Fund’s research intensive bottom up investment approach has helped it become one of the best performing funds in the GCC producing top quartile returns over the past 3 and 5 year periods. The Khaleej Fund, which invests principally in equity securities listed across the six GCC stock markets, has delivered an annualized return of around 11% versus 4% for MSCI GCC Total Return Index since the fund’s inception in March 2004. Khaleeq Equity has been rated “AA” by Standard & Poor’s and in 2008 was awarded the best GCC fund by Lippers.
Shakeel Sarwar, Principal, SICO Asset Management, commented, “The main reason for our strong performance is the quality of our investment team and a bottom up, value driven research based investment process”.
SICO offers additional funds in the form of the SICO Selected Securities Fund, a Bahrain dedicated mutual fund, which invests principally in equity and debt securities listed on the Bahrain Stock Exchange; SICO Gulf Equity Fund, which invests in listed securities across the GCC stock markets with the exception of the Saudi Arabian stock market and SICO Arab Financial Fund, which offers investors the opportunity to capitalise on the rapidly growing financial sector in the MENA region by investing in financial sector securities listed on the stock markets of the MENA region. SICO has recently closed its latest fund, SICO Money Market Fund, which invests in short term, investment grade regional money market instruments.
Securities & Investment Company is a wholesale bank offering a selective range of investment banking services, including asset management, brokerage, corporate finance and market-making, on a regional basis and with a particular emphasis on Bahrain. Through its wholly owned subsidiary, SICO Fund Services Company (SFS), SICO also provides custody and fund administration services.
As of June 30th , 2010 , SICO reported total assets of BD 76.340 million, with shareholders’ equity of BD 53.170 million. SICO’s shares have been listed on the Bahrain Stock Exchange since May 2003. Securities & Investment Company was the first ‘closed’ company to list on the exchange.
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