Markaz won the “Best Asset Manager in Kuwait” award by Global Investor magazine, a Euromoney publication. The judges granted the award taking into account the company’s healthy balance sheet, performance and diversity of its product offerings, innovation, investment approach to navigate market cycles, high level of corporate governance, and sustainable growth in market share, assets under management and client base.
Ms. Amani Al-Omani, Executive Vice President- MENA Equities at Markaz said “We would like to thank Global Investor Magazine for granting Markaz the “Best Asset Manager in Kuwait” award. We are committed to achieving the best performance for our clients through following a research driven methodology and investing in high quality assets.”
Al-Omani added “Our investment policy is based on four pillars, research, outperformance, sustainable growth, and risk management. This enabled Markaz to fare reasonably well in the financial crisis.”
Markaz was invited to speak in the panel discussion held after the award ceremony. Mr. Pradeep Rajagopalan Vice President- Risk Management & Compliance at Markaz participated in the session about what the region can learn from other global financial centres and what has to change in the regulatory and legal regimes.
Markaz has a track-record in asset management across different asset classes. In 2010, three funds collectively won four Lipper Awards for best risk-adjusted performance during the year. ‘Markaz Mumtaz Fund’ won two awards for best Kuwaiti equities fund for the periods of three and five years. ‘Markaz Gulf Fund’ won best MENA equities fund and ‘Markaz Islamic Fund’ won best Islamic Kuwaiti equities fund, both for the period of three years. ‘Mumtaz Fund’ was also awarded as the best equity fund for the year 2009 by the leading regional publication ‘MENA Fund Manager’. Markaz "Mumtaz" and "Gulf" Funds recently received "A" ratings from Standard & Poor's.
Since its establishment in 1974, Markaz succeeded in navigating through market cycles, and as a result, Markaz currently manages a major market share in the region’s fund management industry; it’s ranked as first in Kuwait and the third in the GCC. As of September 30, 2010 Markaz Assets Under Management are KD 1.03 billion (USD 3.64 billion), mostly managed on behalf of institutional investors, who regard “Markaz” as one of a handful of trusted asset managers in the region.
Markaz’s track record in asset management in Kuwait and the GCC extends back to almost three decades. In 1983, the company started offering portfolio management services in the Kuwaiti Market and in 1999 it entered the fund management field with the launch of the first Kuwaiti Equities Fund – Mumtaz.
About Kuwait Financial Centre “Markaz”
Kuwait Financial Centre S.A.K. "Markaz", with total assets under management of over KD 1.03 billion as of September 30, 2010, 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.
Photo caption: Mr. Ghazi Al Osaimi, Manager -MENA Equities receiving the award on behalf of Markaz in Global Investor’s Award Ceremony held in Dubai recently.