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  Lipper Award

Al Basha'er GCC Equity Fund wins the prestigious Lipper Fund Award

Sponsored by prominent regional institutions, the US $400 million Al Basha'er GCC Equity Fund tops the GCC Equity category

Dubai , UAE / 28 March 2007: Al Basha'er GCC Equity Fund, the largest of its kind in the Gulf region, has won the prestigious Lipper Fund Award in the GCC Sharia'a-compliant Equity Fund category. KFIC, Gulf Finance House (GFH), Qatar Islamic Bank (QIB), Abu Dhabi Commercial Bank (ADCB), Gulf Bank and Khaleeji Commercial Bank (KHCB) are the leading institutions promoting this fund. The Lipper Fund Awards programme highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.

The Al Basha'er GCC Equity Fund is a US$400 million Sharia'a-compliant equity fund offering investors a significant opportunity to participate in the region's stock markets. The fund is jointly managed by KFIC and GFH.

The annual awards ceremony was held on 26 March 2007 at The Gate, Dubai International Financial Centre (DIFC) in Dubai and attended by VIPs, dignitaries, government officials and business leaders from the region.

Commenting on the award, Mr. Abdulrahman Al Saeed, Vice Chairman and Managing Di rec tor of KFIC, said, "As the largest of its kind in the Gulf region, Al Basha'er GCC Equity Fund represented the first step by GFH & KFIC to build a world-class asset management business. This honor is yet another rec ognition of our strong team and its management capabilities and is a strong reflection of investor confidence. Our app rec iation goes to GFH, QIB, ADCB, Gulf Bank and KHCB for their continuous efforts to make this fund a success."

Mr. Esam Janahi, Chief Executive Officer and Board Member at GFH and Vice Chairman of KHCB, added: “The award is a testimony and rec ognition of GFH's strategy of offering its clients value driven innovative product offerings. The launch of the Sharia'a-compliant Al Basha'er GCC Equity Fund was itself a pioneering effort. The robust response we rec eived during its launch in November 2005 resulted in this fund being oversubscribed by US$140 million and attracting a total of US$540 million from regional investors, a clear indication of its promising success."

Al Basha'er GCC Equity Fund offers monthly subscriptions and redemptions, and is under the supervision of the Central Bank of Bahrain and adheres to all Mutual Funds related rules and regulations. The fund invests selectively in stocks of listed as well as unlisted Sharia'a-compliant companies in the region.

The Lipper Fund Awards, sponsored by Reuters and the DIFC, are presented to funds in 21 countries in Asia, Europe and the United States . The award-winning funds are among the 130,000 funds Lipper tracks globally. Lipper strives to make the list of award-winning funds and fund families easily available to investors and advisors.

 

 
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