Shuaa Capital, a leading asset management and investment banking platform in the region, said an open-ended fund managed by the group has registered strong growth in the last nine months generating a 35 per cent net return.

 

Goldilocks Investment Company, the ADGM domiciled open-ended fund launched in 2015, is being managed by Shuaa GMC, a subsidiary of Shuaa Capital. 

 

It has generated a net return of 158% since inception compared to the S&P Pan Arab Index’s total return of 52%, MSCI UAE Index’s total return of 16% and MSCI World Index’s total return of 89% during the same period.

 

In the first nine months, Goldilocks generated a 35% net return compared to the S&P Pan Arab Index total return of 32%, MSCI UAE Index total return of 36% and MSCI World Index total return of 13%. 

 

In addition, dividends received in H1 2021 from the Fund's underlying investments for FY 2020 were the highest since inception and demonstrated strong cash flow generation ability and strength of the Fund’s portfolio companies.

 

The best performers among Goldilocks' managed portfolio companies included Dana Gas (YTD 59% total return), and GFH (YTD 26% total return) and certain other equity and sukuk investments. 

 

The Fund also continued with its constructive activist approach to collaborate on investor-focused campaigns such as the successful opposition to Emirates REIT sukuk reprofiling that the Fund opposed in June 2021. 

 

During the year, Goldilocks initiated several new investments and participated in flagship listings on ADX. The Fund’s new investments also included investments in cutting-edge technology companies. 

 

The Fund continues to leverage its strong balance sheet and enhanced liquidity to identify accretive investment opportunities that are focused on high intrinsic value and company-specific turnarounds, it added.-TradeArabia News Service