Global announced today that it has been named “The Leading Islamic Fund Manager” in the Middle East at an event organized by Naseeba in the Kingdom of Saudi Arabia last week.

Mr. Zeyad Awad, Head of Asset Management at Global in Saudi received the award from the organizers in an event held in Al Faisaliah Hotel in Riyadh and attended by a number of local and international business figures.

On this occasion, Mr. Awad said, “We are honored to be recognized as the Leading Islamic Fund Manager”. He attributed this achievement to the ongoing dedication and hard work of the asset management team at Global in managing various asset classes that are sharia compliant.

He added, “This award is a testimony to our solid capabilities in managing Islamic investment products in the MENA region, where high demand for such products still exists, and the growth potential for Islamic investing remains vast.”

He added, “This is the result of our successful experience and vast exposure in the GCC and MENA region. Global has business relationships and substantial resources in the GCC region. Moreover, the company has a track record of generating value by creating various investment vehicles.”

He emphasized the growth in Islamic investment opportunities in international and regional markets, and noted that various investment tools are growing with continuity and creativity making it a highly attractive market. He affirmed that Global continually seeks to launch creative Islamic investment products and services and generate attractive risk adjusted returns for its customers.

Global manages a wide range of Islamic funds ranging from real estate and private equity to equity and money market. The list of funds include the GCC Real Estate Fund which  was launched in 2005 with the intention of taking advantage of the booming real estate market in the GCC region focusing on the development and acquisition opportunities in the GCC’s middle-income residential sector. The current unrealized IRR is 18 percent, and the Fund Manager is confident that the Fund will generate a cumulative IRR in excess of 20 percent upon exit. Currently the Fund has returned approximately 60% of its capital back to its investors.

On the other hand, the Global Saudi Sharia Compliant Equity Fund (Al-Noor) was launched on 7 March 2009 and invests in equities listed on the Saudi Stock Exchange that are Sharia compliant. The fund has recorded good performance since its inception.

It is worth mentioning that Global seeks to continuously provide its clients with added value by focusing on its core businesses that include Asset Management, Investment Banking, and Brokerage. “We will work very hard to offer our clients the best investment opportunities backed up by the highest level of service to meet or exceed their expectations.” he concluded.