MANAMA: SICO has won top honours in four categories at the 2021 Global Investor Group Mena Awards for the exemplary performance of the bank’s asset management and brokerage teams.
SICO was named the Mena region’s Sukuk Manager and Equities Asset Manager of the Year, as well as Bahrain’s Asset Manager and Broker of the Year.
The recognition comes on the heels of multiple awards received by SICO in 2021 and attests to SICO’s solid track record and ability to deliver to its clients healthy risk-adjusted returns over the long term.
“We are extremely proud to win these four awards and to maintain our leadership position not only in our home market of Bahrain but also regionally. To receive these accolades, among the most prominent asset managers, brokers, and investment banks in the region, underscores the dedication and consistent track record of our highly professional and experienced team. These awards reinforce our reputation as a regional asset manager of choice for investors who are looking for investing in the region’s most promising markets and asset classes,” said SICO CEO Najla Al Shirawi.
“At SICO, we remain committed to diversifying our offering of unrivaled products and services. Through our new Saudi-based subsidiary, SICO Capital, we look forward to more success in achieving our clients’ investment goals.”
The bank’s total assets under management (AUMs) has increased organically and inorganically by 79pc to reach $4.1 billion as at September 30, 2021 versus $2.3bn recorded at year-end 2020.
In 2021, SICO’s Asset Management division saw its key funds consistently outperform their respective benchmarks.
SICO’s flagship Khaleej Equity Fund achieved a 5-year gross annualised return of 20.4pc outperforming the benchmark by 6.2pc while the bank’s Kingdom Equity Fund achieved a 5-year annualised gross return of 24.9pc vs the benchmarks’ annualised return of 19.8pc.
SICO’s Gulf Equity Fund achieved a 5-year annualised returns of 8.3pc outperforming the benchmark by 1.7pc.
In the fixed income space, SICO’s performance as a sukuk manager and ability to navigate market volatility has earned it a top spot amongst regional fixed income players.
The division’s flagship conventional fixed income fund generated 3-year annualised returns of 7.5pc and 5-year annualised returns of 6.1pc, while the fixed income Islamic fund generated 3-year annualised returns of 7.6pc and 5-year annualised returns of 6.3pc, both ahead of the index average.
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