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Asset & Portfolio Management

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    Discretionary Portfolio Management

    NIC offers portfolio management in various asset classes that are tailor-made to meet investors’ risk/return profiles. NIC aims to achieve maximum returns vis-à-vis the chosen benchmark.

    Discretionary Portfolios are professionally diversified to include any of the asset classes and strategies below in proportions, which efficiently meet investors’ objectives, namely:

      • Local, Regional and International Equity Markets
      • Cash Management (Money Markets)
      • FX Management
      • Real Estate Management
      • Private Equity Investment

    Assets Under Management 2022

    As at 31 March 2022, NIC’s assets under management (AUM) are in excess of USD 4.31 billion.

    Local / Regional Portfolio Management Service

    Team Experience

      • Over 25 years of experience along with a well-established track record in the Kuwaiti and Arab equity markets
      • Established and managed the first Kuwait equity investment fund (First Investment Fund) in 1994
      • Actively involved in initial public offerings (IPOs) of various Kuwaiti companies in conjunction with the KIA privatization scheme of 1994
      • Establishers and managers of Al Wataniya, Al Safwa, Al Darij, Zajil, Mawarid and Al Mada Investment Funds
      • Strong market research capabilities
      • Diversified client base consisting of leading GCC, Kuwaiti & international corporations and high net worth individuals

    Local / Regional Scope

    NIC offers investors discretionary portfolio management services in the local and regional markets.

    Objective: to achieve high total return on a risk adjusted basis vis-à-vis the identified benchmark.                

    50% to 70% of the portfolio will invest in the medium to long term in “blue-chip” equities which adhere to the following criteria:

    • Stable growth in earnings
    • Strong operating profits
    • Strong management team
    • Solid financial standing
    • Distribution of annual dividends
    • Attractive P/E levels
    • Liquidity

    20% to 35% of the portfolio will focus on Short to Medium term investments including:

      • Short term IPO’s
      • Opportunities arising from trading disparities
      • Financially restructured companies with sound growth prospects
      • Liquid small cap companies with promising growth prospects
    • The following represents the fee structure for NIC’s individually managed portfolios:

     

    Minimum Investment

    Individual: KWD 250,000

     

    Company: KWD 500,000


    Discretionary Portfolio Management Services

     

    Annual Management Fee

    Below KWD 1,000,000 – 1.00%

     

    Above KWD 1,000,000 – 0.75%

        plus incentive fees of 20% of the amount by which the annualized rate of return achieved by

        the portfolio exceeds 10% p.a


    Non-Discretionary Portfolio Management Services

     

    Annual Fee

    0.50%


    Custody Portfolios

     

    Annual Fee

    0.125%

    Discretionary Portfolio Strategy Models - Conventional Model

    Inception:  May 2011

    The Conventional NIC Model Portfolio seeks to achieve higher returns than the benchmark S&P Kuwait, which reflects the largest Kuwaiti public companies in terms of market cap across different sectors.The portfolio exclusively invests in shares listed on the Boursa Kuwait with the goal of maximizing return and minimizing risk on a relative basis.

    Performance Summary (as at 31 January 2020)

     

    Month to Date

    Quarter to Date

    Year to Date

    Since Inception

    Conventional NIC Model Portfolio*

    0.45%

    0.45%

    0.45% 

    58.73%

    S&P Kuwait Price Index 

    0.02%

    0.02%

    0.02%

    6.13%


    Portfolio Strategy

    Allocation Weightage

    Long – Term

    50% to 70%

    Short – Term

    20% to 35%

    Cash

    Minimum 5%

    Stock

    The weights of stocks are capped at 10% above or below their corresponding weight in the benchmark

    Sector

    The weights of sectors are capped at 20% above or below their corresponding weight in the benchmark


    Sector Distribution

    Discretionary Portfolio Strategy Models - Islamic Model

    Inception: August 2012

    The Islamic Compliant NIC Model Portfolio seeks to achieve higher yields than the benchmark S&P Kuwait Shariah 10% Capped Index (KWD) TR which represents the entire Boursa Kuwait Islamic choices available for investment. The portfolio exclusively invests in shares listed on the Boursa Kuwait and maintains about 5% in cash. The Islamic Compliant NIC Model Portfolio investment policy focuses on value investing and a sector diversification strategy to optimize returns.

    Performance Summary  (as at 31 January 2020)

     

    Month to Date

    Quarter to Date

    Year to Date

    Since Inception

    Islamic Compliant NIC Model Portfolio*

    1.11%

    1.11% 

      1.11%   

    56.68%

    Benchmark*

    1.76%

    1.76%

    1.76%

    6.74%

    *Benchmark Changes
    S&P Kuwait Shariah 10% Capped Index (KWD) TR
    KTSCI Composite Index (All) - Since Inception to Dec 2018


    Portfolio Strategy

    Allocation Weightage

    Long – Term 50% to 70%
    Short – Term 20% to 35%
    Cash Minimum 5%
    Stock The weights of stocks are capped at 10% above or below their corresponding weight in the benchmark
    Sector The weights of sectors are capped at 20% above or below their corresponding weight in the benchmark

    Sector Distribution

    Discretionary Portfolio Strategy Models - Dividend Model

    Inception:  January 2014

    The Dividend Growth NIC Model Portfolio seeks to achieve higher yields than the benchmark KSE All Share Market Index (Weighted) which represents the entire Boursa Kuwait. The portfolio exclusively invests in shares listed on the Boursa Kuwait. The Dividend Growth NIC Model Portfolio investment policy focuses on value investing and a sector diversification strategy to optimize returns.

    Performance Summary  (as at 31 December 2019)

     

    Month to Date

    Quarter to Date

    Year to Date

    Since Inception

    Dividend Growth Model - Kuwait*

    5.00%

    8.38%

       23.41%   

    59.11%

    KSE - All Share Market Index (Custom)

    5.97%

    10.63%

    23.68%

    15.36%


    Portfolio Strategy

    Allocation Weightage

    Long – Term

    50% to 70%

    Short – Term

    20% to 35%

    Cash

    Minimum 5%

    Stock

    The weights of stocks are capped at 10% above or below their corresponding weight in the benchmark

    Sector

    The weights of sectors are capped at 20% above or below their corresponding weight in the benchmark


    Sector Distribution

    Discretionary Portfolio Strategy Models - GCC Model

    Inception:  July 2014

    The GCC-NIC Model Portfolio seeks to achieve higher yields than the S&P GCC Large/Mid cap Index . The portfolio exclusively invests in shares listed on the GCC stock markets. The GCC-NIC Model Portfolio investment policy focuses on value investing and a sector diversification strategy to optimize returns.

    Performance Summary  (as at 31 January 2020)

    Month to Date

    Quarter to Date

    Year to Date

    Since Inception

    GCC NIC Model Portfolio*

    0.07%

    0.07%

    0.07%

    19.90%

    S&P GCC COMPOSITE
    LARGEMIDCAP INDEX

    1.54%

    1.54%

     1.54% 

    10.15%


    Portfolio Strategy

    Allocation Weightage

    Long – Term

    50% to 70%

    Short – Term

    20% to 35%

    Cash

    Minimum 5%

    Stock

    The weights of stocks are capped at 10% above or below their corresponding weight in the benchmark

    Sector

    The weights of sectors are capped at 20% above or below their corresponding weight in the benchmark


    Sector Distribution

    Local & Regional Equities

    Al Wataniya Fund

    Established in July 2001

    Dedicated to investing in listed Kuwaiti equities

    • Monthly subscription & redemption
    • Semi-annual dividend distribution
    • Open to all investors

    Al Darij Fund

    Established in June 2003

    Invests in listed and unlisted Sharia-compliant equities in Kuwait & the GCC

    • Monthly subscription & redemption
    • Semi-annual dividend distribution
    • Open to all investors

    Zajil Fund

    Established in February 2005

    Dedicated to investing in Kuwaiti & Arab listed and unlisted equities in the services and telecommunications sectors, which abide by Islamic Sharia

    • Monthly subscription & redemption
    • Semi-annual dividend distribution
    • Open to all investors

    Mawarid Fund

    Established in April 2006

    Dedicated to investing in Kuwaiti and GCC Sharia-compliant listed and unlisted equities in the industrial and petroleum services sectors

    • Monthly subscription & redemption
    • Semi-annual dividend distribution
    • Open to all investors

    Al Mada Fund

    Established in July 2008

    Dedicated to providing capital appreciation and income to its investors by investing in GCC listed equities, which abide by Islamic Sharia

    • Monthly subscription & redemption
    • Semi-annual dividend distribution
    • Open to all investors

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