Announcement on new Portfolio

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Announcement on new Portfolio 14 - Nov - 2012

Kuwait Financial Centre K.P.S.C. (Markaz) is pleased to announce that it has signed a portfolio management agreement for an amount not exceeding KD 250 million to invest  in real estate over a period of 10 years. The total size of the portfolio represents 28.6% of the Assets under Management as of 30th September 2012. With respect to the impact on fee income, it is difficult to assess it currently, as the fees would be charged on the actual invested amount, and its impact would be reflected on a quarterly basis over the coming years.