Kuwait: Reinforcing its position as one of the leading asset management and investment banking institutions in the MENA region, Kuwait Financial Centre 'Markaz' was honored with the prestigious 'Top Innovations in Finance' award under the ‘Best Momentum Fund Innovation’ category at the eleventh edition of “Innovators 2024”. Securing the global accolade from Global Finance marks yet another milestone in Markaz's 50-year journey, further cementing its position as a frontrunner in developing innovative and customer-centric investment solutions.

At Global Finance, a specialized team of experts select the winners based on a set of criteria, which include designing and launching innovative financial and investment tools that contribute to identifying and paving the way for new diversified opportunities in the sector, in addition to using modern technologies and creative thinking to provide an elevated experience for clients, in line with their aspirations and financial goals.

Launched in 2023 under the slogan 'Invest in Winners,' the ‘GCC Momentum Fund’ was the first fund of its kind in Kuwait to invest in GCC markets based on the ‘Momentum’ mechanism. The fund focuses on investing in shares that have sustained high momentum scores over the past 12 months, offering individuals and corporate investors that prefer to invest in GCC markets with a long-term strategy, the best risk-adjusted returns.

Commenting on this notable win, Amani I. Al-Omani, Managing Director - MENA Equities at Markaz, said: "To witness the ‘GCC Momentum Fund’ gain global recognition just a year following its launch gives us a great sense of pride. This award is testament to the exceptional capabilities of the Markaz team in studying markets and offering innovative investment products and solutions capable of enhancing the overall investment scene in Kuwait and the region, while opening new horizons for clients. Amongst these innovative solutions is the ‘Markaz Mumtaz Fund’, the first local mutual equity fund, and the ‘Forsa Financial Fund’, the first and only Options fund in the GCC since 2005. Markaz had also recently launched ‘Lending and Borrowing Services’ in 2022.”

From his end, Mohammed A. Al-Ghannam, Senior Vice President – Fund Portfolio Management, MENA Equities at Markaz, said: “The asset management team at Markaz embraces an investor-first approach. Accordingly, the Momentum methodology was chosen after conducting a historical in-depth study of various investment methodologies, and then developing the Fund’s mechanism according to research and studies that were held over the course of two years, to verify and validate this strategy. Our team’s keenness to create and develop innovative solutions stems from Markaz’s approach to launch investment solutions specifically designed to cater to clients’ needs, which is reflected in the success of the Momentum strategy in Kuwait and the demand for it by investors.”

Echoing similar sentiments, Abdullatif Al-Nusif, Managing Director of Wealth Management and Wealth Development at Markaz, said: "Since inception, innovation has always been at the core of Markaz’s operations, and we are thrilled to be part of Global Finance’s ‘The Innovators -2024’ awards for our latest investment solution, ‘GCC Momentum Fund’. This award reflects our commitment towards keeping up with the latest market trends and creating unique opportunities for our clients by diversifying our products and services, to better cater to their investment goals. Moreover, this accolade further reinforces our position in the MENA region, and underpins our clients’ trust in us, which motivates us to be further innovative and address their changing needs.”

These successes of Markaz are recognized and honored both internationally and regionally. In 2023, Markaz won more than 10 industry awards for its exceptional performance as a market leader in investment banking, commitment to corporate social responsibility programs, digital innovations, and promoting diversity and inclusion. 

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About Kuwait Financial Centre “Markaz”

Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.30 billion (USD 4.24 billion) as of 31 March 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors’ horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first and only options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz.

For further information, please contact:
Sondos Saad
Corporate Communications Department
Kuwait Financial Centre K.P.S.C. "Markaz"
Email: Ssaad@markaz.com   
markaz.com