Global Saudi awarded “Best Saudi Equity Fund” by MENA Fund Manager
Global Saudi received the “Best Saudi Equity Fund” award by the “MENA Fund Managers Performance Awards” during an event held on Tuesday 30 January 2018 in Dubai and attended by professionals from the regional investment and asset management industry. Bader Al-Ghanim, Chief Investment Officer at Global Saudi received the award.
Global Saudi Equity Fund, the second largest fund in the Kingdom with assets under management of SAR 502 million (USD 134 million), was named “Best Saudi Equity Fund”. The fund has outperformed the respective benchmark Tadawul All Shares Index (“TASI”) reporting 120.8% since inception (TASI: 50.9%) and 5.8% in 2017 (TASI: 0.2%).
Al-Ghanim said, "We are delighted that MENA Fund Manager recognized our achieved and consistent performance on various products. We were able to accomplish these results by consistently placing our clients' interests at the forefront and continuously seeking to offer optimum quality products and services.”
“Our stock selection processes along with the investment strategy didn’t only result in outperforming the funds we manage their respective benchmarks last year, but also on longer periods; the past two years, three years as well as since inception" he added.
It is worth noting that over a 3 years and 5 years window, the Fund performance was -7.2% and 37.5% respectively compared to -13.3% and 6.3% respectively for TASI (The benchmark returns do not reflect dividends for the respective periods).