The MENA market awards were announced in May 2023, recognizing funds with outstanding performance based on Refinitiv’s rigorous assessment process. Kamco Investment Fund was named the Refinitiv Lipper Fund Awards Kuwait 2023 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 59.2% over 3-years (Benchmark 54.2%), 72.7% over 5-years (Benchmark 62.4%), and 90.0% over 10-years (benchmark 58.6%) as of 30 April 2023.
Commenting on the awards, Salah Al Wuhaib, Senior Executive Director of Equity and Fixed Income at Kamco Invest, said, “We are proud to be recognized once again by Lipper for the consistent performance of the Kamco Investment Fund. These results were achieved due to the diligent investment philosophy and active fund management style that we apply when managing our mutual funds and investments. Furthermore, we make it an effort to prioritize our clients’ best interests, a dynamic that lies at the forefront of our model, when structuring our various innovative and top-tier products and services.”
Mahmoud Tifouni, Director – Equity and Fixed Income, said, “Receiving these awards and recognition from a specialized entity truly acknowledges the strength of our asset management strategy, whether it is during periods of market growth and prosperity, or during times of uncertainty and market volatility. The fund’s performance over the short, medium, and long terms while outperforming its benchmark over these periods is a clear testimony to this.”
Robert Jenkins, Head of Research, Lipper, Refinitiv, said, “The 2023 Refinitiv Lipper Fund Awards recognize those award-winning managers who navigated their shareholders through the impacts of a global pandemic and then the perfect storm of economic shocks leading to generational inflation pressure and global central bank interventions. Prospects for potential recessionary forces taking hold and subdued returns across most major asset classes in 2023, highlights the need for adept stewardship of one’s investments. Fund managers will need to guide their investors through these challenging times and position them favorably for the eventual recovery.”
Jenkins added, “We applaud the 2023 Refinitiv 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 economic 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. The Kamco Invest Fund and Kamco Premier Market Index Fund were the top performing conventional funds, while the Al Durra Islamic Fund was the best performing Islamic fund in Kuwait during 2022.
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