Kuwait’s Global posts $9.2m net profit for H1

August 12, 2015 11:20 AM

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Kuwait’s Global posts $9.2m net profit for H1

Kuwait – Mubasher: Global Investment House (Global) posted on Wednesday its financial results for the first half of 2015, which showed a net profit of KWD2.8 million ($9.2 million).

Total revenues reached KWD 6.8 million ($22.5 million), with 2.6% growth year-on-year.

Global’s assets under management amounted to KWD1.2 billion ($4 billion).

Several funds managed by Global outperformed their respective indices and peers. Global GCC Islamic Fund achieved 8.6% growth compared with the index (3%), Global GCC Large Cap Fund achieved 8.6% rise compared with the index (1.3%). In addition, Global Saudi Equity Fund recorded a rise of 15.2% compared with the index (9%), and Global Saudi Equity Fund (AlNoor Fund) Sharia Compliant rose by 16.3% compared with the index (8.6%).

Global Buyout Fund, one of the five private equity funds managed by Global’s alternatives asset management team has distributed $15 million to its investors, which is the second distribution made by the fund this year after distributing $4 million at the beginning of 2015.

With this distribution, the total amount distributed by the Global’s private equity funds exceeds $473 million since inception, Global said.

Source: english.mubasher.info

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