Tuesday 16 February 2010
Standard & Poor's assigns ratings to Global GCC Funds
Standard & Poor’s Fund Services announced today that it has assigned an A fund management rating to two Global GCC Funds: Global GCC Large Cap Fund and Global GCC Islamic Fund.
Shahid Hameed, head of asset management at Global Investment House, manages both the funds. Hameed is supported by an experienced team of eight analysts in Kuwait, with further resources in Jordan and Egypt. The team is split by sectors and is responsible for $1.6bn across 11 mandates.
Both funds aim to outperform the respective MSCI indices by investing in 20-25 high conviction stocks trading at significant discount to intrinsic value. Like many funds in the region, there is considerable flexibility in portfolio construction.
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