Excitement builds as Saudi investment banks await Failaka Islamic Fund Awards' results

Since their inception three years ago, the awards have become recognized as the standard for excellence in the field of Islamic investment fund management.

Presented for the best performance or the most noteworthy achievement, the Failaka Awards are coveted by financial institutions and their fund managers who regard them as a high-water mark in their careers.

"Islamic Funds are now internationally recognized for their outstanding record of consistent high performance and with their worldwide proliferation it is an excellent idea to have an annual process of selection that sorts out the best from the rest," said a Saudi fund manager. "This is what the adjudicating committee of the Failaka Awards does, and the fact that the awards are judged according to global standards means that a win for a Saudi investment house brings with it prestige that carries their good name - and with it that of the Kingdom - all around the world".

He went on to add "All of us are so keen to win that the weeks leading up to announcement have us in a state of high anticipation as the tension and excitement builds up".

This year, the Failaka Awards presentation ceremony will take place on Wednesday March 24th at the Emirates Tower Hotel in Dubai and, for the first time, the event has been expanded to incorporate the Failaka Investment Outlook Forum, which will provide attendees with a high-level, forward-looking analysis of trends in Shariah-compliant and GCC fund management.

Attracting an audience of GCC-based bankers, global asset managers, law firms and service organizations such as accounting, IT companies and trust firms, the Failaka Awards are acknowledged as being of international significance with delegates coming from not only the GCC but also Europe, North America and Asia.

Award categories are: Best Fund Family; Best Fund Manager - U.S.; Best Fund Manager - GCC; Best Fund Manager - Asia; Best Global Equity Fund; Best GCC Equity Fund; Best European Equity Fund; Best U.S. Equity Fund; Best Asian Equity Fund; Best New Fund; Best Balanced Fund; and Best Contribution to Growth & Development.

The Failaka Investment Forum section, which immediately precedes the presentation of the awards, consists of two sessions: Outlook 2008 -GCC Economies and Markets; and New Products - ETFs, Hedge Funds, and Emerging Markets.

Failaka Advisors, the organizers of the awards, was founded in 1996 and is the recognized leader in Islamic fund research, offering institutions and private investors the largest and most detailed database of information on Shariah-compliant equity funds worldwide. The company has offices in Dubai, London and Chicago.