KUWAIT: KAMCO, a leading investment company with one of the largest AUMs in the region, and winner of the prestigious Kuwait Asset Manager of the Year Award 2015, announced here the other day that its KAMCO Real Estate Yield Fund (KREYF) has successfully distributed cash dividends of 1.7 percent to investors. The dividends mark a period of the fund’s initial establishment until the end of the first quarter of 2015. The dividends’ distribution reflects the fund’s positive performance and attractive return achieved since its establishment.
The KREYF consists of five core investments with targeted markets including the Kingdom of Bahrain, United Arab Emirates and the Kingdom of Saudi Arabia. KREYF, which is one of the first local funds in Kuwait to receive CMA approval for fund raising in late 2013, invests in the real estate sector directly and indirectly and sells, buys and leases locally and regionally (GCC and / or MENA countries).
Considering the importance of real estate investments in the targeted markets, the Fund manager focuses on the fund’s strategic approach emphasizes investing in unique low-risk real estate assets that have attractive yields. KREYF is an open-ended real estate investment fund that follows a cautious and return-yielding approach, and is denominated in USD with a variable capital ranging between $18 million to $550 million. Mounir Samir Ezzeddine, Senior Vice President, Alternative Investment Department at KAMCO said, “KAMCO continues to provide varied investment opportunities that are simultaneously secure and income generating. The KREYF is characterized by its prudent investments, aiming to generate steady cash flows during the investment period, via the distribution of quarterly cash dividends. “
