Jadwa Investment wins Banker Middle East's “Best Islamic Fund” Award

Riyadh, 09 September 2014: Jadwa Investment, a leading Saudi Arabian investment management firm headquartered in Riyadh, announced that its “Jadwa Saudi Equity Fund” has been named the “Best Islamic Fund” by the Banker Middle East Product Awards.

The award was presented to Zaheeruddin Khalid, CIO and Head of Asset Management at Jadwa Investment, in recognition of the fund’s strong performance, excellent returns achieved and high competitiveness. The fund’s unit price increased by 208.72%, reaching SAR 310.19 at the end of the first half of 2014, up from SAR 100 per unit at the launch of the fund on 30 June 2007.

Established as part of the company’s ongoing efforts to capitalise on available investment opportunities, the “Jadwa Saudi Equity Fund” uses a multi-strategy approach to achieve long-term capital growth. The fund invests its assets in a diversified portfolio, comprised of Sharia-compliant companies listed on the Saudi Stock Exchange (Tadawul). The Standard & Poor’s Saudi Sharia Index serves as benchmark for the fund.Overall Jadwa manages approximately SAR 22 billion in Assets under Management across public equities, private equity, real estate and fixed income asset classes.Jadwa’s public equity Assets under Management currently stand at SAR 14 billion.

Tariq Al Sudairy, Managing Director and CEO, Jadwa Investment, said: “This award is recognition of our successful investment strategy, which is based on seizing investment opportunities that can achieve higher returns for investors and shareholders.”

Zaheeruddin Khalid, CIO and Head of Asset Management at Jadwa Investment, said: “Winning the ‘Best Islamic Fund’ award from Banker Middle East is a testament to the achievements of the Jadwa’s Asset Management team, and it is a valuable addition to the company's track record. This milestone sets the bar higher for us. We will continue to strive for industry leading performance by our products and provide best-in-class services to meet the objectives of our institutional and individual investors.”

The annual Banker Middle East Product Awards recognise banking and financial products and services that are either exceptionally innovative or have shown excellent financial performance or market share. The awards are open to banks and financial institutions in the GCC and MENA region, and are based on a peer-vote process in which only registered readers of Banker Middle East, or its sister magazines published by CPI Financial, together with the registered users of the real-time financial news website, can participate.