Markaz Fund for Excellent Yields ‘Mumtaz’ and Markaz Islamic Fund have received two awards for best performance.

The two funds are products of Kuwait Financial Centre (KFC) .

The two awards are for ‘Best Equity Fund in Kuwait (5 years) and Best Equity Fund in Kuwait (1 year) respectively.

The Lipper Fund Awards programme highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. The awards are granted to funds across 21 countries in Asia, Europe, and the US. Winners of this award include world-class companies and financial institutions.

Senior trader, local and GCC investments, Mohamed Al Saad represented Markaz in the Lipper Awards ceremony at Jumeirah Emirates Towers, Dubai. The ceremony was attended by a large and distinguished gathering.

Markaz Fund for Excellent Yields ‘Mumtaz’ was launched in 1999 and was the first mutual fund to invest in listed companies in the Kuwait Stock Exchange. The NAV has shown exceptional growth cumulating to 1,254 per cent since inception and an average of 36.9 per cent per year.

Markaz Islamic Fund was established in 2003 and has posted absolute returns of 236 per cent cumulative and 31.4 per cent CAGR since inception. Attractive features of the open-ended funds include a low minimum subscription and weekly subscription and redemption. In addition, subscription is open to all nationalities.

Senior Vice-president, local and GCC Investments, Amani Al Omani said the Funds are managed by an experienced team, whose decision making is research-driven. 

"I would like to thank our clients for their trust, which is a major contributing factor to our success. The team’s hard work, continuous efforts and implementation of a well studied and dynamic investment strategy in response to market conditions are other factors accountable for our success," said Al Omani.

Al Omani added that such awards create a healthy competitive vibe amongst companies, which is beneficial for investors. – TradeArabia News Service