CI Capital Asset Management named “Best Asset Manager in Egypt – 2018 ” – International Finance and ACQ5
“Best Asset Manager for Sharia Compliant Funds in the Middle East 2018 – Global Investors
Funds managed by CI Capital Asset Management Tops Egypt’s Funds’ Performance Ranking over Multiple Time Periods
“Estithmar” Fund achieves the Highest Cumulative Returns of 162.5% and 244.9 in the Egyptian Market over the Last 3 and 6 years, Outperforming the EGX30 by 66 and 68 Percentage Points
In recognition of CI Capital Asset Management success in the Egyptian and regional markets, the Group was awarded the “Best Asset Manager in Egypt 2018” by International Finance, an award given by a qualified research team in recognition of CI Capital Asset Management’s unique talents, outperformance of managed funds, leadership skills and value-add to the asset management sector and other economic sectors
CI Capital Asset Management was also awarded the “Best Asset Manager in Egypt 2018” by ACQ5, an annual award that recognizes organizations and individuals who have achieved outstanding success in specific areas through a survey of more than 168,000 readers and experts in different fields.
In addition, CI Capital Asset Management has been awarded the “Best Sharia Compliant Asset Manager in the Middle East 2018” by Global Investors, a member of Euromoney International, according to an assessment by experts in the field of asset management across the Middle East and North Africa.
These awards and international recognitions of CI Capital Asset Management reflects the consistency of outperformance of CI Capital Asset Management’s managed funds in all funds’ categories. These awards also came as a continuation of the prestigious awards from international organizations to CI Capital Asset Management won in previous years (e.g. CI Capital Asset Management was awarded “Best Asset Manager in Egypt” by several international institutions such as ACQ5 (2017), Global Investors for 8 consecutive years (2010-2017), EMEA Finance (2016), Global Business Outlook (2016), in addition to many awards in Egypt and in the Middle East (e.g. MENA Fund Manager).
Amr Abol Enein, Managing Director and Head of CI Capital Asset Management, commented: “These awards and international recognitions come as a result of the efforts exerted by CI Capital Asset Management’s team of professionals and the company’s ability to manage all types of portfolios and mutual funds and to introduce newly developed and diversified financial instruments in the Egyptian market with continuity and consistency of achieving the highest returns on all categories of products, outperforming the market indices and peer funds’ performances in terms of returns and rankings, in addition to achieving continued real value added over the years to its customers and its business partners”.
In this respect, it is worth noting that all mutual fund categories under the management of CI Capital Asset Management are topping the Egyptian funds’ YTD and cumulative performance report prepared and published by the Egyptian Investment Management Association (EIMA) until the end of November 2018 (29/11/11) 2018) as illustrated below:
For the Conventional Equity Fund Category, “Estithmar” Fund, one of CIB’s sponsored funds investing in stocks listed on the Egyptian Stock Exchange, is ranked first equity fund in terms of its YTD returns of 3.22% compared to EGX 30’s negative returns of – 11.32% for the same period, in addition, to outperforming the average returns of all peer equity funds in the Egyptian market of -9.51%. Additionally, the Fund held the top ranking for the last 12 months as well as the two, three, five and six -year periods cumulative returns of 11.91%, 62.48%, 162.52% 171.22% and 244.96% respectively and outperforming the EGX 30 with an Alpha of 20.57pp, 47.14pp, 66.05pp, 55.84pp and 67.91 percentage points respectively.
For the Sharia Complaint Equity Fund Category, CI Capital Asset Management topped the YTD and last 12 months rankings through “ Helal” Fund, sponsored by Arab Investment Bank, with a YTD and last 12 months cumulative returns of 1.30% and 7.82% respectively compared to the average returns of all peer Sharia complaint equity funds in the Egyptian market of -8.51% and -4.15% respectively. It is also worth noting that “Aman” Fund, co-sponsored by CIB and Faisal Islamic Bank, ranked first among local peers in the same fund for its two, three, five and six -year periods cumulative returns of 51.23%, 131.92%,131.79 and 160.60% respectively outperforming the average returns of all peer Sharia complaint equity funds in the Egyptian market over the same time periods with an Alpha of 26.89pp, 59.37pp, 47.07pp, 55.65 percentage points respectively.
CI Capital Asset Management is also ranked first in the Balanced Funds Category (for funds with a maximum equity exposure limit of 60% of their NAV), with CIB’s “Takamol” Fund YTD returns of 5.59% compared to an average return of -4.12% for peer funds. In addition, “Takamol” Fund topped the ranking among local peers for the last 12 months as well as the two and three-year periods (i.e. since inception), with cumulative returns of 11.95%, 45.39%, and 102.33%, respectively versus average returns of peer funds of -2.57%, 22.49%, and 63.88%, respectively.
For the Conventional Money Market Fund Category, CI Capital Asset Management also maintained its top position in the Egyptian conventional money market funds’s space, always managing the top performing conventional money market fund throughout the years (2009-2018). CIB’s “Osoul” Fund was ranked first among all conventional money market funds for its YTD and last 12 months’ cumulative returns of 14.16% and 15.51%.
Other money market funds managed by CI Capital Asset Management in previous years were ranked first in 2011, 2012, 2013 ,2014 ,2015 ,2016 and 2017.
As for the Sharia’s Compliant Money Market Fund category, CI Capital Asset Management topped the list with United Bank of Egypt’s Sharia’s Compliant Money Market Fund “Rakhaa”. The Fund topped this category by achieving a YTD returns of 13.79% compared to an average return of 12.80% to peer funds. Rakhaa was also the best-performing Fund for the last 12 months as well as the two and three-year periods (the maximum time horizon for peer funds).
CI Capital Asset Management is also ranked first in the Fixed Income Funds Category, with CIB’s “Thabat” Fund YTD returns of 18.43% compared to an average return of 13.13% for peer funds. In addition, “Thabat” Fund topped the ranking among local peers for the last 12 months as well as the two and three, five, and six-year periods, with cumulative returns of 19.97%, 40.85%, 43.36%, 76.43% and 97.61%, respectively.
Abol-Enein added “we are very proud of the continuation of the unprecedented and superior achievement in the history of mutual funds in the Egyptian market and our continuity in achieving real value-add to our customers and business partners as we strive to maintain our top unmatched performance, increase our market share and total assets under management, as well as continue to introduce innovative products.”