Burgan Bank Financial Fund, from USD60mm to USD390mm in two years

The fund was designed to provide Kuwait's investors with safe and secure short-term investments yielding better returns than the 3 months Kuwaiti Dinar deposit rates. The Fund started two years ago with a start up capital of approximately US$60 million and now it stands at in excess of US$390 million. The considerable growth in this type of fund is that it allows investors easy access to their money and provides a better yield than short- term Kuwaiti Dinar money market deposit rates.

Towards the end of last year, the Fund hit a high of an impressive 3% above market rates. Tawfeek quoted "The Fund started very well in 2000 and by the end of October it had reached a month high of 6.93% with a return to date since launch date of 6.43%"..... Interest rates across the globe have tumbled in the last year but Burgan Bank Treasury has managed to sustain impressive returns for its clients by choosing a good low risk mix of long-term money market instruments, corporate bonds and specialist Islamic Murabaha financing.

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