Rasmala also recognized by BMI Research for equity fund performance in Egypt achieving returns of 74.7%
Cairo, Egypt, 14 November 2017: Rasmala Egypt Asset Management (‘REAM’), the Egyptian asset management subsidiary of Rasmala plc, has announced that its ABC Bank Fund (the ‘Fund’), has been recognised by Thomson Reuters Lipper as the top performing fund over a period of 1 year, 3 years and 5 years in terms of return within the Egypt Equity category. The Fund was also recognised by BMI Research in its report covering Egypt Banking Q4-2017, as the strongest performing equity fund in 2016 registering a return of 74.7%.
The Fund, which was launched in August 2008 by ABC Bank Egypt is managed by REAM and invests in the Egyptian equity market.
Commenting on this achievement, Ahmad Abou El Saad, MBA, CFA Managing Director of REAM, said: “We are delighted to be recognised by Thomson Reuters and BMI Research for our outstanding performance. This reflects clearly the breadth and expertise of Rasmala. We are very proud of our investment team who successfully navigated the challenging Egyptian market conditions in 2016 and built on this in 2017 as the top-performing fund until the end of October 2017”.
Rasmala manages over USD 530.6 million in equity funds and discretionary portfolios. Rasmala’s equity offering covers the Middle East and North Africa as well as global Shari’a compliant equity through its funds and portfolios. Further launches are planned in the next 12 months.
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Established in 1999, Rasmala is a leading investment firm engaged in asset management and real estate. The firm provides investment management solutions to pension funds, family groups, corporations and government institutions. Rasmala plc is listed on the AIM market of the London Stock Exchange. Rasmala Investment Bank Limited (‘RIBL’) is authorized and regulated by the Dubai Financial Services Authority (‘DFSA’). Rasmala Egypt Asset Management is authorized and regulated by the Egyptian Financial Supervisory Authority (‘EFSA’).
About Lipper Fund Awards
For more than three decades and in over 20 countries worldwide, the Thomson Reuters Lipper Fund Awards have honoured funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers. Renowned fund data and proprietary methodology is the foundation of the Award qualification. Individual classifications of three-, five-, and ten-year periods, as well as fund families with high average scores for the three-year period are recognized.