JEDDAH, 25 April 2007 — Two National Commercial Bank (NCB) investment funds won two awards from Lipper recently.
The funds are Al-Ahli Fund for Trade with Saudi Stock, which was classified as the “Best Islamic Fund” for the past five years, achieving exceptional returns of 850 percent during the past six years, and the Al-Ahli Fund for Health Care Stock which was chosen as the best fund for the past year in the health care and pharmaceutical sector.
Sami Abdo, NCB Head of Investment Services Division, said the NCB investment funds continue to reap rewards, noting that “our investment funds achieve exceptional returns for the benefit of investors from our clients. This time, our funds earned the title of “Best-Performing Funds” by winning two awards from Lipper, an international leader in performance analysis of investment funds.”
Ayman Bajsair and Said Battati accepted the awards on behalf of NCB’s Assets Management Services.
Lipper for Analytical Services was established in 1973 to provide accurate data and analytical reports of investment companies in the US.
In 1998 Lipper joined Reuters as a subsidiary company owned by the group, and now, evolved into Lipper to become an international company with branches spread in 114 countries around the world.
The Lipper Awards program aims to highlight and reward the most prominent investment funds which recorded superior performance and risk rates that are relatively low compared with other investment funds.
The winning funds were selected from among 130,000 funds which Lipper followed up on an international scale.
Since the development and launch of the first investment fund in the Kingdom in 1979, NCB’s investment funds are among the best performers in the world.
