NBK re-launches watani global equity guaranteed fund

National Bank of Kuwait has relaunched watani global equity guaranteed fund for the third time on June 3, 2001

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By  Massoud Derhally Published  June 6, 2001

National Bank of Kuwait (NBK) re-launched Watani Global Equity Guaranteed Fund for the third time on June 3, 2001. Watani Global Equity Guaranteed Fund, which was launched in 1995, had an average annual return of 11% for the last six years, 2000 investors and a market capitalisation of $180 million.

The relaunch will enable NBK to benefit from positive market developments and growth opportunities. The three-year investment low risk vehicle seeks to participate in the potential growth of global equity markets returns while providing investors with 100% capital protection on investments held to maturity and semi-annual liquidity.

“Watani Global Equity Guaranteed Fund not only guarantees 100% of investors’ capital, but also provides them with unlimited returns,” said George Nasra, general manager of investment banking, asset management and treasury group at NBK.

“The fund’s returns are linked to the global equity markets; 55% will be invested in the S&P500, 30% in Europe, UK and Switzerland, and 20% in Japanese equities,” Nasra told ITP.net. According to Nasra, “the fund is a low risk investment vehicle with semi-annual liquidity giving investors the flexibility and freedom of choice to access their capital if required.” The fund’s strategy is to be aggressive while retaining safe and defensive characteristics.

The initial offering period of the Fund ends on July 11, 2001. Subscription to the Fund is open to all nationalities. The minimum subscription is US$10,000 with additional investments of multiples of US$1,000 and exist strategy every six months.

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