SICO Wins MENA’s Best Sukuk Manager and Bahrain’s Asset Manager and Broker of the Year 2022

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has been recognized for the exemplary performance of its asset management and brokerage teams by the Global Investor Group MENA Awards 2022. SICO was named MENA ’s Best Sukuk Manager, as well as Bahrain’s Asset Manager and Broker of the Year.

“We are extremely proud to have secured these awards and maintained our regional leadership position. These recognitions of our performance across our asset management and brokerage divisions reinforce SICO’s position as one of the leading investment banks in the region, underscoring the dedication and consistent track record of our highly professional and experienced team. SICO is committed to offering the best in-class service to our clients, whom we are incredibly grateful to for their constant trust in our abilities, and we look forward to future success in meeting all of their investment goals.” said Najla Al-Shirawi, CEO of SICO.

The Bank’s assets under management (AUMs) have grown 5% to USD 4.75 billion as of 30 September 2022, compared to the USD 4.5 billion recorded at year-end 2021.

In 2022, SICO’s Asset Management division saw its key funds consistently outperform their respective benchmarks. SICO’s flagship Khaleej Equity Fund with one of the longest track records in the region, achieved a 5-year gross annualized return of 17% outperforming the benchmark by 7.4% achieving an AAA rating by Citywire in March 2022. The fund has also outperformed the S&P Pan Arab Benchmark by 7.7% on a gross returns basis in 2022.

In the fixed income sphere, SICO’s stellar performance as a sukuk manager and ability to navigate market volatility has earned it a top spot amongst regional fixed income players. The division’s flagship conventional fixed income fund outperformed the Bloomberg GCC Bond index by 6.9% in 2022 and generated 3-year gross annualized returns of 5.5%, while the fixed income Islamic fund generated 5-year annualized returns of 4% ahead of the index average

These latest achievements come on the heels of multiple awards received this past year. SICO was named one of Forbes Middle East Top 30 Asset Management Companies in the Middle East. It also won Best Investment Bank in Bahrain at the 2022 Global Finance World's Best Investment Banks Awards for the third consecutive year, and was named Best Broker in Bahrain by the Arab Federation of Capital Markets (AFCM). Further demonstrating its brokerage business’ outstanding resilience, SICO has retained its ranking as the number one broker on the Bahrain Bourse for the twenty-fourth consecutive year.

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