Mashreq Asset Management is proud to announce that Makaseb Emirates Opportunities Fund (MEOF) has won the Lipper Award Fund 2010 as the best fund under the Equity UAE category over 3 years risk adjusted return for the second consecutive year. The award is for recognition of the team's ability to provide value added solutions during challenging market environment.
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognizes the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams.
The fund’s objective is to achieve capital appreciation by investing in securities listed on the UAE stock exchanges by market timing and dynamic asset allocation. The fund returned 48.2% in 2009 as against the benchmark (MXAED Index) return of 27.9%. Year to Date (March 31, 2010) the fund returned 10.3% as against the benchmark return of 5.3%.
We congratulate and wish the entire MEOF team all the very best and hope we continue to garner many more awards like the Lipper Award, which showcases our excellence in performance and delivering the best to our customers.