Global Investment House-Saudia (Global Saudia) announced Monday that the Global Saudi Equity Fund has outperformed its benchmark reporting 18.6 percent for the first eight months of 2013 compared to 14.2 percent return by the benchmark.
The Global Saudi Equity Fund is today the second largest Saudi conventional equity fund and the largest equity fund in the Saudi market managed by a non-bank owned Investment Company with total assets under management exceeding $132 million and is also the only "A" rated Saudi equity fund by S&P.
Launched in January 2009, the Global Saudi Equity Fund has consistently outperformed its benchmark and peers, with stock selection being the main driver. Since its inception, the fund achieved 90.5 percent return compared to the benchmark return of 62.2 percent, outperforming the benchmark by more than 28 percent.
Commenting on the fund performance, Zeyad Awad, head of asset management at Global Saudia, said, “We are proud with the consistent performance of the Global Saudi Equity Fund which clearly indicates that the strategy we have been following is achieving the desired results.
Our experienced investment team will continue analyzing companies to determine their economic worth based on projected future earnings and cash flows, while taking into consideration the economy and market activity.”
The fund claims to invest in stocks listed on the Saudi stock exchange and seeks to achieve long-term capital growth with predefined and controlled levels of risk. It aims to realize returns that exceed the average by benefiting from the expected economic growth in Saudi Arabia while maintaining a suitable level of diversification for fund assets and reduction of total risk by investing in different market sectors.
