Sico, a leading regional asset manager, broker, and investment bank, was named Mena region’s Fixed Income Manager of the Year and Bahrain Asset Manager of the Year at the 2020 Global Investor Group Mena Awards.

Sico was named among the 2020 Next 100 Global Awards in the Banking Group and Investment Banking categories. The Next 100 Global Awards from Global Banking and Finance Review highlight some of the most exciting, innovative, and promising businesses from around the world whose achievements have transformed their respective industries.

“We are extremely pleased to have received these awards which attest to our commitment to offer the best products and services to our clients making it far less complex for them to achieve their investment goals,” said Sico CEO Najla Al-Shirawi.

“Our team of specialized and experienced, highly talented professionals has proven their abilities to offer world-class services and advice year after year, cementing our reputational excellence across the region.”

Sico’s Asset Management division saw its signature funds outperform its benchmarks even amid volatile conditions throughout the year. The bank’s Khaleej Equity Fund witnessed an increase of 2.5% versus a 3.8% decrease in its benchmark while the Sico Kingdom Equity Fund saw an increase of 2.6% versus a decrease of 0.6% in its benchmark.

Similarly, the Gulf Equity Fund saw an increase of 1.3% versus a benchmark decrease of 9%. In addition, the bank’s total assets under management (AUMs) amounted to BD792.5 million ($2.1 billion) compared to BD808.7 million ($2.1 billion) recorded at year-end 2019. The third quarter of the year saw AUMs increase by BD133.2 million ($353.3million) as a result of the asset management team’s active and successful fundraising and improved market performance.

Sico’s fixed income team was able to overcome the obstacles posed by the Covid-19 pandemic and enjoyed one of its most successful years to date, in terms of both growth and performance. The Bank’s two main fixed income GIPS composites, namely the GCC fixed income composite as well the as the Shari’ah income composite posted positive year-to-date returns of 4% and 7% respectively. – TradeArabia News Service