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The award of the ratings follows a rigorous process of qualitative research, analysis and deliberation by Standard & Poor's Fund Services analysts. The funds' "AA" and "A" ratings reflect high standards of quality based on its investment process, risk awareness and consistency of performance relative to its own objectives
SICO has made significant investments in its Asset Management team over the past year, with the recruitment of high quality, proven analysts as well as reorganising the team into research and portfolio management, to enable the rigorous implementation of SICO's investment strategy.
The Khaleej Equity Fund, which invests principally in equity securities listed across the six GCC stock markets, has delivered a nearly 69% return since its inception in 2004. The Fund's bottom up investment approach has helped it become one of the best performing funds in the GCC producing top quartile returns over one and three years and year to date.
"The Khaleej Equity Fund has established itself as one of the top GCC equities funds and we take comfort from the fact that Head of Asset Management Shakeel Sarwar is still closely involved with portfolio construction,"
said S&P Fund Services lead analyst Roberto Demartini.
"Its success is a testament to the group's disciplined yet decisive approach. The strong performance until last summer resulted from stock selection while, more recently, raising cash to 60% has added most value."
Anthony Mallis, Chief Executive of SICO, commented, "Our team's performance and their dedication to creating insightful, value creating research has been instrumental in achieving these new Standard & Poor's Fund Management ratings. Our strong performance is based on a well thought through and prudent asset allocation and bottom-up driven stock picking strategy, which applies a top down approach to risk management by closely monitoring company, country and sector exposures. Despite the current negative market, we remain positive on the long-term investment return potential of the region."
Posted by Rima Ali Al Mashni
