Doha-based Al Rayan Investment (ARI) has been recognised as Mena Sukuk Manager of the Year at the 2013 Investment Excellence Awards.
The award was presented in London recently, hosted by Global Investor/ISF, the asset management-focused publication of Euromoney magazine.
The winners were determined by a panel of six judges from UK-based trustee companies that advise institutional investors on allocations to investment managers.
The award recognises ARI’s excellence in managing sukuk investments. A rigorous research-driven investment process, combined with multi-factor risk management oversight, enabled ARI to outshine its Mena peers, according to a statement.
ARI is rapidly making a name for itself as a regional asset manager. Last week’s award comes on the heels of being named Shariah Fund Manager-2012 at the Middle East Summit & Awards in November 2012, also hosted by Global Investor/ISF.
Adel Mustafawi, Group CEO of Masraf Al Rayan, said: “Having built a best-of-breed asset manager within the Al Rayan family, we remain focused on enhancing its capabilities.”
ARI, which is 100% owned by Masraf Al Rayan, manages investments in excess of QR1.6bn spread across sukuk and GCC listed equities. These include Al Rayan GCC Fund, the largest mutual fund based in Qatar. The fund has gained 17% so far in 2013, while over the past 12 months it is up 27%; subscriptions are open to both individual and institutional investors.
“We are delighted to win this prestigious award,” said Abdulaziz al-Muftah, executive director at ARI. “We thank our clients for their continued support and aim to continue to deliver high-quality investment products and services.”
“Being one of the few asset managers with expertise in both sukuk and listed equities enables us to seize opportunities across asset classes for the benefit of our investors,” said Akber Khan, head of asset management. “The team is grateful for the acknowledgement and proud to share the winners’ list with some of the largest asset managers around the globe.”