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2009-02-10
Kuwait - Global Investment House «Global» announced yesterday that the Palestine Investment Fund classified as one of the best performing mutual funds in the Middle East and North Africa, according to had been published by the website Angle, which is one of the best data providers in the region. The classification of the Fund had depended on the exceptional returns which amounted to 14.3% during the month of January of 2009, and the net asset that valued $ 89.27 million, and the Fund has achieved since its foundation in 2006 by 12% over the Al-Quds index, which reflects the performance of Palestine Securities Exchange. The head of asset management in the Middle East and North Africa in Global Mr.Talal Samhouri said "The Palestine Investment Fund, which launched in April 2006 is a dedicated fund for investment in Palestine, and aims to take advantage of the potential growth of the Palestinian economy and the attractive valuation of the companies, and it is the first joint fund in the world dedicated to investment in Palestine". And added the fund had a good performance which reflects the excellent research capabilities of Global, as well as the selection of shares applied and reinforced by the good performance of the Palestinian Capital Market". It should be noted that the Al-Quds index rose significantly by 15.5% in 2009 leading the other indices in the Arab markets and emerging markets. Samhouri assured that Al-Quds Index has lost by 16% in 2008 compared to 55% loss in Morgan Stanley index of the Arab markets, and 54% loss of Morgan Stanley index of emerging markets".
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