KUWAIT, 8 May 2007 — The capital of Global Investment House was increased by KD86 million to fuel company’s expansion plans on the strategic and operational levels, its chairperson and managing director Maha K. Al-Ghunaim said.
In the first financial analyst meeting held yesterday at the JW-Marriott Hotel here under the theme “An Open Book Discussion,” Al-Ghunaim said that high liquidity, brisk economic activity and bullish stock markets, accompanied by core competencies of various business sectors at Global, has led to excellence in financial performance and better future prospects for the company.
Global’s geographical expansion across the Middle East, North Africa and Asia presently puts it in more than 14 countries being it Global offices or through strategic stakes in leading financial institutions. “Global will continue expanding to provide outstanding investment opportunities to our clients wherever they exist,” she added.
“Our diversified sales and distribution channels give us strong placement capabilities with our private and institutional client base of about 4,000 clients,” she explained. “These channels consist of client relationship, corporate desk, regional sales, and international sales in addition to our regional and overseas branches.”
Al-Ghunaim further said that “Global is one of the few companies that focuses on corporate governance and accordingly has put governance framework specifying the role and responsibilities of the board of directors, the underlying committees and the company employees to ensure good corporate governance practices. Being listed on three stock markets and operating in several countries requires compliance with governance and accounting regulations of each of these countries”.
Highlighting the company’s achievements, she said the Investment Fund Department’s assets under management have grown by 26 percent in 2006 and its products have been recognized on international level, specializing in real estate offering funds in US, Asia and the GCC.
The Global Distressed Fund has been ranked “the 6th best fund of hedge funds worldwide in terms of Sharpe ratio (Barclay March 2007) and the second best performing distressed fund of hedge funds worldwide (Eurekahedge, Q1 2007). Global Umbrella Fund — Europe achieved a fourth worldwide ranking on a year-to-date performance basis (Eurekahedge — March 2007).
The GCC Investments Department manages over $1.5 billion under diversified multiple strategies and had launched an array of investment funds with different strategies, adding value to the regional capital markets, and display an outstanding performance till this date. The department’s products have also received recognitions.
The latest was from Lipper-Reuters in 2007, awarding Global Large Cap. Index Fund the “Best Performing Fund in Kuwait in 2006.” Corporate Finance Group has a team considered to be one of the largest multi-disciplinary and reputable teams in the region with over 100 experienced professionals.
