Kuwait manager wins Best GCC Fund

Their Al-Safwa fund's return was the highest of over 20 nominated funds dealing in the equities of GCC firms. With most of the region's funds down between 20-50 percent, the Al-Safwa fund held losses to a controlled 2.72 percent.

The award was given at the 2nd Annual Failaka Islamic Fund Awards on April 2, hosted by Failaka Advisors, the world's authority on Islamic-compliant equity funds, at Jumeirah Beach Hotel. The Failaka Islamic Fund Awards honored 10 recipients from around the world in 10 regional categories. Other categories included Best US Equity Fund, Best Balanced fund, and Best Asian fund. These awards have become the benchmark for achievement in the fast-growing field of Shari'a-compliant fund management. With over 200 Islamic-compliant funds now in existence, the competition for the award has increased dramatically.

"National Investments Company has shown an amazing ability to manage downside risk throughout a very challenging year for GCC equities," said Mark Smyth, Managing Director of Failaka Advisors. "We are delighted to give them this year's award for best GCC Equity Fund for their Al-Safwa Fund."

"We are very honoured to receive this award," said Saad Al-Hunayan, Local and Arab Investments Manager for National Investments Company. "We have a strong commitment to upholding our responsibility towards our clients, shareholders and employees and our growth as a top-tier investment house in Kuwait. The key to our success is our continuous focus on creating value by offering unique and diversified investment opportunities, delivering superior returns and providing services excellence."

The Failaka award for best GCC Fund is given to the manager of the previous year's highest returning equity fund, in any GCC market. The winning fund must have a three-year history.