KAMCO, announced that its KAMCO Real Estate Yield Fund (KREYF) has successfully distributed cash dividends of 1% to investors for the third quarter of 2015, reaching a total of 3.7% since inception in April 2014.
The KREYF Fund, was able to reach a weighted average occupancy rate of 96% and growth of the Fund’s size by 87% since inception which demonstrates the market demand for such income-generating products. In addition, the Fund managed to increase its rate of return since inception to 4.03% by the end of October 2015.
KREYF, which is one of the first local funds in Kuwait to receive CMA approval for fund raising in late 2013, where the fund was established in April 2014 upon completion of the establishment process and obtaining the required seed capital.
The fund aims to invest in income-generating real estate investments in the GCC region, Egypt, Lebanon, Jordan and Morroco, which enables investors to deploy their excess cash to obtain higher returns than bank deposits with the opportunity to liquidate such investment through a redemption option. KREYF consists of six core investments with a total of 162 number of units with targeted markets including the Kingdom of Bahrain, United Arab Emirates and the Kingdom of Saudi Arabia.
A Prudent Investment Strategy
Mr. Khaled Fouad, Chief Investment Officer at KAMCO said, “The fund, which is US Dollar dominated with a minimal subscription of 5,000 units at the subscribed month’s NAV per unit, provides the investor with an option to redeem units semi-annually upon the end of a one year lock-in period.”
Mr. Fouad added, “To ensure that we increase the investment returns of investors, KAMCO continues to provide varied investment opportunities that are low-risk and income generating. KREYF is characterized by its prudent investment strategy, aiming to generate steady cash flows during the investment period, via the distribution of quarterly cash dividends.”
KAMCO website www.kamconline.com provides more information on the prospectus and articles of association of the Fund as well as all contact details necessary for investors. KAMCO representatives can be reached at 185 26 26.