SICO’s Sovereign & Quasi Sovereign Fixed Income Strategy Wins Best MENA Fixed Income Fund Strategy
SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as awholesale bank by the CBB), has announced that its Sovereign & Quasi Sovereign Fixed IncomeStrategy has been named the Best MENA Fixed Income Fund Strategy by the Bonds, Loans & SukukMiddle East Awards 2023.
SICO’s CEO, Najla Al-Shirawi, commented on the award saying, "We are honored to have receivedthis prestigious award, which acknowledges our leadership in the asset management industry andrecognizes the exceptional flagship strategy of SICO. I attribute this success to the unwaveringdedication and expertise of our team, who have always delivered exceptional results for our clients,even in challenging market conditions. We are grateful for the trust our clients have placed in us,and we remain committed to serving them with innovative and expert solutions. Our team takes greatpride in this achievement, and we will continue to strive towards exceeding our clients' investmentgoals. With our extensive presence in Bahrain, the UAE, and Saudi Arabia, we are well-positionedto serve our clients and capitalize on the opportunities in the GCC region."
"Our fixed income strategies have consistently achieved exceptional results, consistently ranking inthe top quartile against their respective benchmarks. Our flagship SICO Fixed Income Fundoutperformed its benchmark by 6.9% in 2022, while our GIPS Compliant Sukuk Strategy came out on top versus regional peers on a one-year, three-year, and five-year basis, generating a total netreturn of 23.23% over the last five years,” said Ali Marshad, Head of Fixed Income at SICO.
The Bonds, Loans & Sukuk Middle East Awards has been recognising the most innovative andground-breaking deals from sovereign, corporate, and financial institution issuers, borrowers, andinvestors in the Middle East since 2014. The awards celebrate the exceptional performance offinancial institutions and professionals who have demonstrated excellence in various categories.SICO Asset Management was honoured for its exceptional work and dedication to providingexceptional fixed income strategies in the MENA region.
"Congratulations to SICO on this well-deserved recognition," said Alex Johnson, CEO of GFCMedia Group. "Their conviction to delivering excellent fixed income strategies in the MENA regionhas been commendable. This award is a testament to their expertise, innovation, and dedication toexcellence in serving their clients.". The Bank's assets under management (AUM) increased by 5%to reach USD 5 billion at the end of the first quarter of 2023 ,on the back of the introduction of newofferings and services.
For the full release in English & Arabic, click here
