Global Investment House (Global) announced today that the Global EPADI Fund recorded a strong performance of 7.1%.in the first four months of 2011 becoming the best performing fund investing in the energy and petrochemicals as per Zawya’s database that monitors regional funds.

Regional markets’ performance improved in April with all the markets closing positive led by Kuwait (+6.6% MoM) and Dubai (+5.0% MoM). Oil prices increased by 6.2% during April closing at USD114 per barrel. The Global EPADI Fund was up 6.5% during April, outperforming the benchmark, which rose 5.9% over the previous month.

Mr. Shahid Hameed, Head of GCC Asset Management at Global said, “We are pleased with the results the Global EPADI Fund has achieved. The fact that The Fund was ranked as the top performing fund in the region in its category reflects our long-term commitment to our clients.”

The Global EPADI Fund was launched in May 2006 and invests in companies principally engaged in energy, petrochemicals, and downstream industries listed on the GCC stock exchanges. Since inception, the fund has achieved 15.6% growth, outperforming its benchmark by 27.5%.

Mr. Hameed added, “Our medium outlook for the sector remains positive. Strong crude and access to advantaged feedstock allows regional petrochemical companies to benefit more directly from the tight market”