JEDDAH, 28 June 2006 — Standard & Poor’s Fund Services, one of the world’s major providers of independent fund information, ratings and research, has assigned an ‘A’ fund management rating to the National Commercial Bank’s (NCB) AlManarah High Growth and AlManarah Medium Growth Portfolios, following a qualitative evaluation of their performance, stock selection and management policy.
According to Standard & Poor’s Fund Services, funds that are rated demonstrate the ability to provide above average returns over a long-term period (relative to funds in the same sector) along with a strong ability to adhere to a consistent investment process.
The rating is based on an evaluation of qualitative (management, investment process, and organization) and quantitative (historic performance, portfolio construction, and volatility) factors, which contribute to long-term performance.
These portfolios, launched in 2003, are open-ended funds-of-funds offering investors Shariah-compliant asset allocation.