Markaz Fund for Excellent Yields "Mumtaz" wins two Lipper Reuters Fund Awards for best performance


Kuwait Financial Centre S.A.K. “Markaz”, one of the Middle East’s leading investment banking and asset management companies, announced the receipt of two awards for best performance for Markaz Fund for Excellent Yields "Mumtaz". The two awards are Best Equity Fund in Kuwait- 3 years and Best Equity Fund in Kuwait- 5 years. The Lipper Fund Awards program 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 United States. Winners of this award include world class companies and financial institutions. Mr. Bader Al Ghanim, Vice President– Local and GCC Investments represented Markaz in the Lipper Awards ceremony. The awards ceremony took place on Monday 26 of March 2007 at Dubai International Financial Center (DIFC). The ceremony was attended by a large and distinguished gathering. Markaz Fund for Excellent Yields "Mumtaz" was launched in 1999 is the first mutual fund to invest in listed companies in the Kuwait Stock Exchange. The NAV has shown exceptional growth exceeding 900% since inception. Other attractive features of the open-ended Fund include a relatively low minimum subscription of 100 units and weekly subscription and redemption. In addition, subscription is open to all nationalities. Ms. Amani Al Omani, Vice President– Local and GCC Investments, who heads the department said Mumtaz is 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 & dynamic investment strategy in response to market conditions are other factors accountable for our success" said Ms. Al Omani. Al Omani added that such awards create a healthy competitive vibe among companies, which is beneficial for investors. Al Omani concluded by thanking the team in the Local and GCC Investments department, Markaz staff, as well as the Board Directors for their continuous support. Kuwait Financial Centre 'Markaz', with total assets under management of over KD1.20 billion as of December 31, 2006, was established in 1974 has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997; and was recently awarded a BBB+ corporate rating by Capital Intelligence Ltd.