Total revenue stood at KWD6.1mn (Q1 2024: KWD6.7mn), whereas fee and commission income reached KWD3.3mn (Q1 2024: KWD3.5mn), accounting for 55.1% of total revenue.
Assets under management grew by 6.4% to reach USD16.9bn as of 31 March 2025, due to new money raised in various products during the period, as well as the performance of portfolios and funds. Kamco Invest maintained its ranking amongst the ten largest asset managers in the MENA region, according to Forbes Middle East. The Company enjoys a strong track record and deep expertise in delivering diverse investment solutions to its clients.
Managed portfolios continued to outperform their respective benchmarks, while the Company’s equity funds maintained their positions amongst the top performing funds in Kuwait. Kamco Premier Market Index Fund achieved a return of 10.56% in Q1, moving up the ranks to become the best performing equity fund in Kuwait. The Kamco Islamic Fund was also ranked as the top performing Shariah-compliant fund, recording a return of 8.35%, based on the fund disclosures published on Boursa Kuwait.
As for Alternative Investments, which includes real estate, private equity and structured products, the team continued to expand its range of offerings to provide clients with added value. During the quarter, Kamco Invest finalized the acquisition of a 60% majority stake in European Green Logistics Space (EGLS), a company specializing in the development, investment, and management of logistics assets in Europe. This acquisition reflects Kamco Invest’s commitment to growing its recurring fee income while unlocking value-adding opportunities for regional clients in the sustainable logistics sector.
Furthermore, the Company successfully exited its investment in Yargici, a leading Turkish fashion and accessories brand held by one of Kamco Invest’s private equity funds, through a sale to TIMS Group, a diversified Turkish business group with operations in content production, tourism, construction, and land development. The exit highlights Kamco Invest’s commitment to delivering long-term value to its clients while ensuring the continued growth and success of its portfolio companies.
Kamco Invest was also awarded the “Kuwait’s Best for Alternative Investments” at the Euromoney Private Banking Awards 2025. The prestigious recognition highlights the Company’s rapid growth and sustained success in the alternatives space.
The Investment Banking team continued to advise clients on several transactions across equity capital markets, debt capital markets, and M&A, with deals expected to close during the year. In Q1, the team advised OSN Group on the sale of a 30% stake of its subsidiary, OSN Streaming Ltd., to Warner Bros. Discovery for USD57mn. The team also served as Joint Lead Manager for a USD500mn Sukuk issuance.
First Securities Brokerage Company, Kamco Invest’s brokerage arm, continued to strengthen its competitive position and attracted new clients through its online trading platforms.
Kamco Invest -Saudi and Kamco Invest - DIFC continued to strengthen their presence in their respective markets by improving their services and contributing more to the company's core businesses, particularly in asset management. Kamco Invest – Saudi signed a strategic partnership with Flexam Invest to offer leasing opportunities to their clients.
Total assets increased by 1.0% during the period to reach KWD131.1mn, whereas shareholders’ equity rose by 1.9% to KWD63.4mn. The Company also enjoys a strong financial position and a “BBB” long-term credit rating and “A3” short-term rating with stable outlook by Capital Intelligence in their latest review in May 2024.
Commenting on the results, Faisal Mansour Sarkhou, Chief Executive Officer, said, “The Company continued to implement its strategy to enhance the client experience and grow its fee-based income through strategic investments across our core business and operations. During the quarter, we witnessed growth in our AUM and delivered strong performance across several investment products, reflecting the strength of our investment philosophy. We are determined to continue strengthening and expanding our offerings, investing in our teams, particularly in Saudi Arabia and DIFC, and achieving sustainable growth while delivering added value to our clients.”