CEO of The First Investor, Khalid Al Subeai and CEO of Barwa Bank Group, Steve Troop.
DOHA: Barwa Bank’s recently launched first equity fund’s assets under management has reached QR100m by the end of April, a press statement said yesterday.
Barwa Bank Group recently launched “The First Investor GCC Equity Opportunities Fund (Q)”. The Fund manager is The First Investor, (TFI), the investment division of the Shariah complaint bank.
According to the statement, since the launch of the fund, it recorded a considerable capital gain in the first quarter of 2013.
It is up by more than eight percent since inception and has out-performed deposit rates, most fixed income investments and other similar investment schemes from competitors.
The fund was recently awarded “Best Islamic Investment Fund” by The Banker Middle East in April 2013.
Robert Pramberger, Acting Head of Asset Management, TFI said: “We believe equity markets will continue to outperform other asset classes in 2013 as tail risks continue to fade, government bond yields remain close to record lows and investors look to invest in asset classes that return an attractive yield after inflation”.
Khalid Al Subeai, CEO, TFI added: “The Fund is ideal for individuals with a long-term horizon, enabling them to achieve long-term capital growth through investment in a broadly diversified portfolio of equities and equity-related securities. Over the past eight years, GCC markets have returned more than 12 percent per annum and portfolios under TFI management have consistently outperformed the markets.”
Steve Troop, CEO, Barwa Bank Group said: “The Fund is a very promising product and is expected to attract a large number of investors. Barwa Bank and TFI intend to launch more products targeting retail and institutional investors as well as government related entities in the near future.”
The Fund invests in equities and equity-related securities listed on exchanges within the Gulf Cooperation Council countries.
The Group said that the Fund is a 100 percent Shariah-compliant, open-ended collective investment scheme and seeks to achieve long-term capital growth through a broadly diversified regional portfolio.
Subscriptions are open monthly to Qatari institutions as well as Qatari individuals and can be subscribed to at any Barwa Bank branch or through a Barwa Bank Relationship Manager.
The Peninsula
