Global Investment House (Global) announced its financial results for the first half ended June 30, 2015. During H1, the company recorded a net profit of KD2.8 million ($9.2 million) and fee revenues of KD6.8 million ($22.5 million) reflecting a 2.6 percent growth over the first half ended June 30, 2014.

During H1, 2015, the asset management business remained resilient with KD1.2 billion ($4 billion) of assets under management. Several funds managed by Global outperformed their respective indices and peers.

Global GCC Islamic Fund achieved 8.6 percent compared with the index 3 percent, Global GCC Large Cap Fund achieved 8.6 percent compared with the index 1.3 percent. In addition, Global Saudi Equity Fund achieved 15.2 percent compared with the index 9 percent, and Global Saudi Equity Fund (Shariah-compliant AlNoor Fund) achieved 16.3 percent compared with the index 8.6 percent.

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. This is the second distribution from 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 has a healthy capital structure, conservatively deployed primarily in liquid and operating assets with no external debt and a capital base of KD86.7 million ($286.7 million).

Maha Al-Ghunaim, vice chairman and group CEO, said: “We are currently operating in extremely uncertain, volatile and challenging times. Uncertainties stemming from slowing Chinese growth and sharp equity market downfall, Greek crisis and looming US interest rate hike have adversely impacted emerging market equities and currency. Closer to home low oil prices and geo-political uncertainties continue to keep regional equity markets in stress. We are pleased that despite these challenges, we continue to retain our profitability momentum and growth.”