Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Al Hilal GCC Equity Fund wins 2014 Best Islamic Fund at Banker Middle East Product Awards UAE  Join our daily free Newsletter

MENAFN Press - 29/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) April 29, 2014

Al Hilal Bank, the progressive Islamic Bank, has announced that its Al Hilal GCC Equity Fund was named the '2014 Best Islamic Fund' at the Banker Middle East UAE Product Awards organized recently by publishing, events and news company CPI Financial. The fund bested a highly competitive field through its careful selection of healthy GCC stocks and its focus on diversification, both of which have enabled it to minimize volatility while consistently outperforming benchmarks.

Launched by Al Hilal Bank in March of 2011, the Al Hilal GCC Equity Fund has generated a return of 55.89 percent for its investors through a diversified portfolio of Shariah-compliant Gulf equity securities. To meet its long-term goals, the fund will continue to invest at least 75 per cent of its assets under the previously mentioned equities under normal operating conditions.

With the GCC stock market currently in the midst of a multi-year bullish cycle that has not even peaked, Al Hilal Bank's fund is expected to gain further momentum and maintain its leading position in the regional equities markets. GCC economies have rebounded well from the global financial that began to impact the region in late 2008. The Dubai Financial Market General Index in fact emerged as the best performing Index in the world in 2013, appreciating by a remarkable 108 per cent.

"This is a major accomplishment for the GCC Equity Fund and for Al Hilal Bank given that we managed to emerge on top after five weeks of voting with over 12,000 participants. We will continue to deliver the kind of innovative and market-leading products and services in fulfillment of our promise of being 'a bank like no other' to our valued customers and partners, especially where equities are concerned" said Lim Say Cheong, Head of Investment Banking Group of Al Hilal Bank.

"Banks in the UAE continue to improve their products and services every year “ that improvement is recognised by these Awards and in the stiff competition between institutions for them. The Banker Middle East Product Awards programme is designed to encourage, inspire, and reward distinction in the banking and finance industry, raising standards throughout the MENA banking sector," said Adam Broom, CEO, CPI Financial, publisher of Banker Middle East.

"The Banker Middle East Product Awards identify the best products and services available in banking and finance in the Middle East. This year our Awards programme has been designed to assist both retail and corporate customers by doing so on a country-by-country basis, naming the top products and services in nine countries across the Middle East “ watch this space!" concluded Robin Amlt, Managing Editor, CPI Financial.

The annual Banker Middle East UAE Product Awards recognizes banking and financial products and services that are either exceptionally innovative or have shown excellent financial performance and/or market share. It is open to banks and financial institutions in the UAE, the KSA, Bahrain, Kuwait, Oman, Qatar and the Levant territories of Palestine, Jordan and Lebanon. The awards are based on a peer-vote process in which only registered readers of Banker Middle East, or its sister publications Banker Africa, Islamic Business & Finance, WEALTH Arabia and FinanceME, together with registered users of the real-time financial news website www.cpifinancial.net are eligible to participate in. This year's edition covered 186 nationally-available financial products across 38 categories.

Aside from its award-winning GCC Equity Fund, Al Hilal Bank also owns the Al Hilal Global Sukuk Fund and earlier this week launched the Al Hilal Global Balanced Fund to further cement its leadership in the regional securities market. The bank had recently received two major awards for 'UAE Deal of the Year' and 'Syndicated Deal of the Year' under the 'Deals of the Year' category at the 2013 Islamic Finance News Awards.


About Al Hilal Bank
Al Hilal Bank was established in June 2008 with an authorized capital of AED 4 billion and is fully owned by the Abu Dhabi Investment Council, the investment arm of the Government of Abu Dhabi. The bank is Shariah compliant and operates through a network of 22 branches strategically located across the United Arab Emirates as well as 3 other branches in major cities of Kazakhstan. Al Hilal Bank aims to become the leading financial institution in the region and is committed to increase the growth of Islamic banking by providing new direction, new technologies and special services.

 


MENAFN Press




  MENA News Headlines
 Mar 27 2015 - UAE, Belgium to solidify economic tiesMENAFN
(MENAFN) The UAE and Belgian governments are set to improve economic ties, as Belgium eyes capabilities of supporting the economic growth of the UAE, Gulf News reported.A constructive collaboration ...

 Mar 27 2015 - Qatar, French firm sign deal for Qatari lagoonMENAFN
(MENAFN) French engineering group Egis has been granted a contract for rehabilitating a Qatari lagoon, which is raising serious environmental problems, Arabian Business reported.The lagoon covers ...

 Mar 27 2015 - Saudi firm signs USD500m deal to build five Egyptian citiesMENAFN
(MENAFN) Saudi Construction Products Holding Company (CPC) inked a deal to construct five industrialized cities for small businesses in Egypt, Arabian Business reported.The Saudi firm signed an MOU ...

 Mar 27 2015 - US condemns Houthis' actions in YemenKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The United States has condemned ongoing military actions by Houthi militia in Yemen and affirmed that the GCC States were taking action to protect Saudi Arabia's ...

 Mar 27 2015 - Saudi Amb. to Washington announces joint GCC operation against Houthis in YemenKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Ambassador to Washington Adel Al-Jubeir announced Thursday that a joint GCC military operation was undertaken to counter the "Houthi aggression" in ...

 Mar 27 2015 - Egypt to join military operation against HouthisKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egypt has announced its full military and political support for the joint Arab operation against Houthi militias in Yemen on Thursday.Egypt is currently ...

 Mar 27 2015 - GCC-Arab alliance's air strikes paralyze air facilities in YemenKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The air base, Al-Dailimi, located in the Yemeni capital Sanaa, was repeatedly struck by military aircraft of the GCC-Arab alliance and navigation via the air ...

 Mar 27 2015 - Saudi air forces bomb Houthi strongholds in SanaaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi military planes struck over the past hours Houthi strongholds and arms depots in Sanaa and headquarters of the reserve forces south of the city, according ...

 Mar 27 2015 - France expands anti-ISIL operations to Tikrit in central IraqKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The French air force has expanded its theatre of operations to hit Islamic State in Iraqi and Levant (ISIL) in central Iraq around the town of Tikrit, the Defence ...

 Mar 27 2015 - Coalition conducts 17 airstrikes against ISIL in TikritKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Coalition operations in support of Iraqi Security Forces in Tikrit commenced last night after a request from the government of Iraq, the Combined Joint Task Force ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help