The Saudi Investment Bank has announced that GCC Industrial Companies Fund, GCC Companies Fund, and GCC Equity Fund recorded stellar performance year-to-date returns of 33%, 20%, and 17% respectively up to October 20, 2007.
The Saudi Investment Bank was the first Saudi bank to launch mutual funds that invest in the GCC region and the only bank managing an investment in the GCC industrial sector which is a Shariaa compliant fund.
In addition, the bank launched a capital protected fund (GCC Himaya Fund) which offers full protection of the invested capital and a monthly liquidity to investors.
Mr. Saud Al Saleh, CEO of the Saudi Investment Bank, commended these results achieved by the funds especially following fluctuations in the region's equity markets during last year. In addition, he showed confidence about the future prospects of the funds.
Investment Services and Financial Planning Group General Manager Mr. Radi Al Haddad commented that the excellent performance is a result of professionalism of our team and investment decisions that are based on sound research and thorough financial analysis.
