More than 10% appreciation in BBK- ING MENA fund

13 Apr 2010

Bahrain: Bahrain’s pioneer in retail and commercial banking, BBK, announced that its recently launched ‘BBK- ING MENA INVEST FUND’ which is open for investors has seen its Net Asset Value increase of more than 10% since its date of launch this February. The fund is an open ended equity fund that seeks long term capital appreciation by investing in a portfolio of companies whose securities are listed in the GCC and MENA markets.

With a fund rating of ‘AA’ by Standard & Poor’s, the BBK-ING (L) Invest Middle East & North Africa fund brings with it various advantages like daily entry and daily liquidity, highly regarded investment managers with an excellent track record, thorough fundamental analysis for investment decision making and risk management capabilities of international standards amongst others.

“We are glad to announce this increase in the Net Asset Value of the fund during this short period of time. Being open ended, Investors can take benefit by entering this fund anytime and so far we have got good response from investors. The Bank has conducted due diligence and also invested in the fund which had a proven success record with a performance of 34.2% in the year 2009 and more than 10% year to date. The fund provides complete transparency to the customers, a monthly detailed report is being sent to all investors,” said A.Karim Bucheery, CE of BBK.

Other benefits of the fund include: no performance fee charged, no redemption charges involved and no lock up period for the investment.

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