January 25, 2012
NBK Qatar Equity Fund named best Qatar equity fund
NBK Qatar Equity Fund was named as the best Qatar focused equity fund in 2011 by MENA Fund Manager, a leading financial publication. The announcement came during the 3rd annual Fund Manager awards ceremony which took place in Dubai.
NBK Qatar Equity Fund was established in 2006 as a result of an extensive study of regional markets and of NBK’s belief in the future of Qatar's economy which has seen remarkable growth in the past few years. The Fund seeks to increase the value of capital over the long term by investing in the shares of the State of Qatar.
The award was received on behalf of NBK Capital by Dr. Husayn Shahrur, Director – MENA Equities at NBK Capital, whose department manages the Qatar Equity Fund. Dr. Husayn commented that winning this award was a testament to the efficiency of the team and the successful strategy deployed by the Fund, which is a reflection of the company's strategy of aiming to provide the best services and products to customers.
Speaking further on the performance of the fund, Dr. Husayn added, "the Qatari market was one of the best performing stock markets globally in 2011, and has strengthened its position as one of the most attractive markets for investors. NBK Qatar Equity Fund achieved a return of 5.93% for the year, following an outstanding performance in 2010 with a return of 32.67%. We continue to be optimistic on Qatar and the NBK Qatar Equity Fund, mainly because of the country’s solid economic growth and heavy investment in infrastructure projects vital to the state."
NBK Qatar Equity Fund is one of three local and regional equity funds managed by NBK Capital, which include the NBK Kuwait Equity Fund and the NBK Gulf Equity Fund. Subscription and redemption to NBK Qatar Equity Fund is on a weekly basis and the minimum investment is USD100,000.