Jadwa Investment, a leading Saudi Arabian investment management and financial advisory firm, achieved total revenues of SR290.37 million ($77.4 million), representing a 17 per cent increase over 2015.

The firm also recorded a net income of SR109.78 million, a 17 per cent increase over the previous year.

Tariq Al Sudairy, managing director and CEO of Jadwa Investment said: “Our strong growth in 2016is a testament of Jadwa’s resilience and strategic discipline in an ever-changing market context. 2016 was also a year in which we achieved an all-time record growth in our assets under management, which reflects our clients’ continued trust in Jadwa’s capability to deliver industry-leading performance.

“More importantly, we take this as a great responsibility to always adhere to the highest standards of professionalism and prudence, and to consistently act in the best interest of our clients.”

During 2016, Jadwa Investment’s assets under management grew to SR24.7 billion, which represents a record 25 per cent increase over year-end 2015.This comes in the context of Jadwa’s three flagship equity funds – Jadwa Saudi Equity Fund, Jadwa GCC Equity Fund, and Jadwa Arab Markets Equity Fund – maintaining their top market ranking since inception, a statement said.

Jadwa also continued to offer an expanded range of investment products to its clients during 2016, including new investment opportunities in the private funds and real estate space.

Looking forward to 2017, the government’s economic reform agenda will be an important driver of Jadwa’s growth strategy, said Al Sudairy.

“As we enter a new calendar year, we will continue to expand the scope of our product and service offerings across the investment spectrum in order to address our clients’ evolving requirements and expectations.  In particular, we will focus on emerging opportunities from the government’s comprehensive economic reform program, including investment attraction initiatives, privatization plans, and capital market expansion programs,” he added. – TradeArabia News Service