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BSE to list 6 Global funds.

Byline: Mahmood Rafique

MANAMA: Global Investment House (Global) has signed an agreement with the Bahrain Stock Exchange (BSE) to list its six funds starting today.

"Listing such a variety of Global Investment House's mutual funds assures the development of the investment environment at BSE in a way that attracts the listing of mutual funds at the exchange," said BSE Director Fouad Rashid. "BSE will continue providing more benefits and facilities to fund managers in order to encourage them to list their funds at the exchange."

The funds include Global Energy which was launched in May this year. The fund has been designed to capitalize on the view that the domestic and regional oil, gas, petrochemical, downstream industries and other related sectors will continue to benefit from a combination of global demand and diminishing supply.

The Global Jordan Fund launched in October 2006 is aimed at achieving capital appreciation with optimum returns over the medium- to long-term by investing in the ASE as well as in initial public offering (IPO) and pre-IPO issues in Jordan.

The Global GCC Islamic Fund instituted in July 2007 is aimed to maximize returns through investing in companies in the GCC markets, as per the pre-defined Shariah criteria. The Palestine Dedicated Fund, launched in April 2006, is aimed at achieving capital appreciation with optimum returns, within a controlled level of risk, over the medium- to long-term by investing in listed securities, IPOs and pre-IPOs issued in Palestine.

Global Egypt Fund instituted in September 2007 is of $10 million size and designed to achieve long-term capital appreciation within controlled levels of risk by investing primarily in listed equities of Egyptian companies, IPO and pre-IPO issues with the aim of posting above average returns by capitalizing on the economic growth driven by reforms in Egypt.

The Global Islamic Fund of Funds is aimed at achieving long-term capital appreciation with optimum returns and controlled levels of risk by diversifying the fund's assets in terms of strategy, geography, and sector.

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Publication:Arab News (Jeddah, Saudi Arabia)
Date:Jul 27, 2008
Words:347
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