The MENA market awards were announced on May 15th, 2024, recognizing funds with outstanding performance based on Lipper’s rigorous assessment process. Kamco Investment Fund was named the MENA Markets and MENA Markets Domestic LSEG Lipper Fund Awards Kuwait 2024 Winner in the categories of “Best Equity Fund Over 3 Years”, “Best Equity Fund Over 5 Years”, and “Best Equity Fund Over 10 Years”.
The fund outperformed its respective benchmark during the mentioned periods with Kamco Investment Fund achieving 32.5% over 3-years (Benchmark 15.5%), 56.3% over 5-years (Benchmark 37.1%), and 87.2% over 10-years (benchmark 47.4%) as of 30 April 2024.
Commenting on the awards, Salah Al Wuhaib, Senior Executive Director of Equity and Fixed Income at Kamco Invest, said, “We are honored to be acknowledged once more by Lipper for the consistent performance of the Kamco Investment Fund. This achievement is a testament to our dedicated investment philosophy and active fund management approach. Additionally, we always prioritize our clients' best interests, a principle that guides us in developing our innovative and top-tier products and services.”
Mahmoud Tifouni, Director – Equity and Fixed Income, said, “Being recognized by the Lipper Fund Awards serves as a testament to the fund’s performance over the short-, medium-, and long-term period, while consistently outperforming its respective benchmark. Our approach has demonstrated its strength in both prosperous periods and during times of uncertainty and volatility. The Kamco Investment Fund, as well as our other local funds, have performed exceptionally, ranking amongst the top performing conventional and Islamic funds in Kuwait.”
Tom Roseen, Principal, Lipper Global Research, LSEG Lipper, said, “The 2024 LSEG Lipper Fund Awards are recognizing perhaps the most dramatic three-year period that the markets have seen in decades. Fund managers, being recognized have steered their investors through a pandemic, a mild recession, a war, skyrocketing inflation, and dramatic central bank intervention. Whether you’ve been investing for just the past 15 years and have seen only the easy money environment following the Financial Crisis – or you’ve been an investor for 50 years and feel as if you’ve seen it all, there is no way to have foreseen the range of fundamental and non-financial factors that impacted the markets these past few years.”
Roseen, added, “We applaud the 2024 LSEG Lipper Fund Award winners such as Kamco Invest for delivering outperformance and the accompanying comfort of consistency to investors’ portfolios through a cross-current of global market disruptions.”
Al Wuhaib concluded by congratulating the Asset Management Team, whose efforts and hard work have resulted in the leading position of Kamco Invest’s Kuwait Equity Funds last year.
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