Preliminary Approval for 'Invest GB' on Al-Badr Gulf Equities Fund
In a move reflecting its ability to diversify its investment products, Gulf Capital Investment “Invest GP,” the investment arm of Gulf Bank, announced that it has received preliminary approval from the Capital Markets Authority to establish the Al-Badr Islamic Gulf Equity Fund. This is a Shariah-compliant investment fund with variable capital ranging from a minimum of 2 million Kuwaiti dinars to a maximum of 500 million dinars.
The fund is the third launched by “Invest GP” since its establishment two years ago, following the significant success of its two Lulu Money Market Funds in dinars and dollars. The new fund aims to grow investors’ capital by investing in leading listed companies, or those eligible for listing, on the stock markets of the Gulf Cooperation Council (GCC) countries.
On this occasion, Abdulrahman Al-Khabizi, Deputy General Manager of Private Banking – Wealth Management at Gulf Bank, said: “We are pleased that Gulf Bank has been appointed as the underwriting agent for the Al-Badr Islamic Gulf Equity Fund. This launch is a continuation of our ongoing efforts to expand the range of Shariah-compliant investment solutions available to our clients, complementing our existing wealth management services and enhancing our ability to meet the diverse investment needs of our clients.”
For his part, Talal Al-Khamis, Head of Equity and Fixed Income at “Invest GP,” said: “The launch of the Al-Badr Islamic Gulf Equity Fund reflects our commitment to diversifying our investment products and achieving long-term capital growth for our clients.”
Al-Khamis noted that the fund uses the “S&P GCC Composite Shariah Large Mid 5/10/40 Capped Index (KWD)” benchmark to track the performance of the fund manager against the index, while all of the fund’s investments are subject to review by a Shariah-compliant stock list issued by a specialized Shariah board.
Since its establishment, “Invest GP” has been keen on expanding investment opportunities by launching new products and entering into strategic partnerships with a select group of global investment managers, thereby enhancing its ability to provide innovative global investment solutions to its clients in Kuwait.
Clients can subscribe to the fund and review the prospectus, the fund’s constitutional document, and all other details by visiting any Gulf Bank branch, acting as the underwriting agent, or by visiting “Invest GP” headquarters at the Al-Hamra Tower for Business.
