Rasmala Announces Full Year 2015 Results

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PRESS RELEASE

 

  • Strong performance of Rasmala flagship funds
  • Expansion of real estate investment and advisory capabilities
  • Completion of Group rebrand to Rasmala

 

London and Dubai, 27 April 2016: Rasmala plc (‘Rasmala’ or ‘the Group’), the independent investment management group, today announced its financial results for the year ended 31 December 2015. The Group is listed on the AIM market of the London Stock Exchange.

Key financial highlights for the period ended 31 December 2015 were as follows:

  • Operating income before tax of £0.5 million (FY 2014: £1.5 million)
  • Profit for the year of £0.25 million (FY 2014: £0.6 million)
  • Assets under management stood at US$1,072 million (FY 2014: US$1,113 million)
  • Net asset value of 331.6p per share (FY 2014: 317.2p per share)

Key business and operational highlights for the period included:

Asset Management:    

  • AUMs amounted to US$1,072 million (FY 2014: US$1,113 million) as at 31 December 2015.
  • The Rasmala Trade Finance Fund financed over US$93 million of trade-related transactions and was recognised by MENA Fund Manager, a trade magazine, for its ‘Outstanding Performance and Innovation.’
  • The ABC Equity Fund was the second best performing fund among Egypt’s 24 public equity funds.
  • Global Investor Magazine named Rasmala “Regional Fixed Income Manager of the Year” and “Egypt Equities Manager of the Year” for 2015.
  • Institutional Investor Magazine again ranked Rasmala as one of the Middle East’s Top 20 Money Managers in 2015.

Investment Banking:

  • Rasmala acquired two substantial commercial investment properties in the UK, each occupied by prestigious corporate tenants.
  • Rasmala acted as a lead arranger for the successful issuance of National Bank of Fujairah’s second tranche of additional Tier 1 Capital worth AED500 million.

Other corporate developments:

  • In December 2015, the Group unified its brand under the Rasmala name.

Zak Hydari, Chief Executive of Rasmala commented: “We are pleased to report a third consecutive year of profit in 2015. Despite the considerable macroeconomic volatility, we saw another year marked by strong performance of our flagship funds, the launch of new fund offerings and the expansion of our real estate capabilities and team. We also unified our Group under one name, Rasmala. We now operate under one brand and one vision across all our markets.”

“We expect the market volatility to remain during 2016, however, we are confident that the robust foundations we have put in place across our Group will allow us to continue to grow our business into both new markets and new product lines,’ he added.

ENDS

For more information, please contact:

Lukasz Gwozdz
Senior Associate
Finsbury
T: +971 (0) 52 649 8556
E: lukasz.gwozdz@finsbury.com                                                                                                                                                                                                

About Rasmala www.rasmala.com   

Established in 1999, Rasmala is a London-headquartered independent investment manager. Rasmala provides asset management and asset-backed financing solutions to pension funds, family offices, corporates and financial institutions. The Rasmala team is highly experienced with in-depth market knowledge and a strong track record of investment performance. Rasmala is listed on the AIM market of the London Stock Exchange and regulated by the UK Financial Conduct Authority. Rasmala operates regulated subsidiaries in the UAE, Oman and Egypt.