Mashreq Wins Big At MENA Fund Manager Awards
16-Feb-2014
Mashreq Bank, a leading financial institution in the UAE, has won four prestigious awards at this year’s MENA Fund manager Awards, recognizing the consistent high performance of its investment funds over recent years.
Mashreq won the Best Equity Fund for its Makaseb Arab Tigers Fund, for both the one year performance category and the three year performance category, which underlines its powerful performance as the top performing regional equity fund over the last five years. The win is also the second consecutive year the Fund has been named as the winner in both categories at the MENA Awards.
The Makaseb Income Fund won the Best Fixed Income Fund award in both the one year and three year Fixed income categories. The win means that Mashreq has been receiving the Best Fixed Income Fund award for the last four consecutive years, either for the Makaseb Income Fund or the Shariah-compliant Mashreq Al Islami Income Fund.
On top of the four wins, the Mashreq Al Islami Income Fund was also highly commended under the Best Sukuk Fund category.
CEO of Mashreq Capital, Mashreq’s Asset Management division, AbdulKadir Hussain, said: “Mashreq has enjoyed a strong performance at the MENA awards over recent years as our funds carve out a place as some of the best performing funds that investors will find in the region. The awards were especially pleasing since 2013 was a difficult year due to interest rate movements and Emerging Market volatility, yet our funds continued to perform strongly, which reflects the skills and expertise of our investment team.”