News

Kamco Invest posts Q3 profit

Arrow upKuwaiti asset manager, Kamco Invest, has posted a US$8.15 million profit for the third quarter, cutting its losses for the year so far to $4.5 million. The slowdown in business from March onwards as a result of the pandemic saw income from fees and commission drop by 9% compared to Q3 in 2019, reaching $38.67 for the nine months of 2020. Total assets under management stood at $12.6 billion as of the end of September while total liabilities were reduced by 14% during the quarter to reach $269 million. Equity funds and managed portfolios continued to outperform their respective benchmarks, states the company’s report. “Despite the extremely difficult economic and operating conditions, we managed to report positive results in the third quarter, reduced our total liabilities, rationalised our cost base and most importantly retained the level of our recurring fee-based income,” said chief executive, Faisal Mansour Sarkhou. “Furthermore, we were able to sign new mandates, close deals, attract new clients and raise funds for new and existing products.” © 2020 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.