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April 1st, 2007
Coast Investment Fund achieved 17.71% return
Mr. Sulaiman Al-Abduljader, Vice
President of Investment Services at Coast Investment and
Development Company announced that Coast Investment Fund
have witnessed an outstanding performance since the
beginning of the year as a result of a seamless, strategic
and the analytical approach Coast fund management adopted to
enhance fund returns while controlling risk. Coast
Investment Fund utilizes the latest software and modeling
techniques towards effective asset allocation and security
analysis. Consequently, the fund was ranked the third among
local funds for the year 2006.
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Mr. Al-Abduljader added “ Since the beginning
of year 2007, the fund was able to beat the market recording
a 17.71% return while the weighted index (benchmark)
realized only a 11.26% gain. Further, the fund achieved a
7.93% return for the month of March compared to the weighted
index of 7.77%.” Mr. Al-Abduljader added that as of 31-3
2007 the Net Asset Value (NAV) of the fund is 1.506 KWD. We
take pride in our effective fund management style and our
dedication and commitment in providing our clients with
growing, risk-adjusted returns and we invite the investors
whom are consumed with their daily professional activities
and are looking for a competent, experienced financial
advisors to fulfill their investment needs''.
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Al Abduljader added on the new well managed
services offered by Coast which includes AMAS service which
is a new package for portfolio management, managed by a well
experienced team of financial analysts. Using the
sophisticated tools of analysis to provide a unique outcome
for clients, AMAS created a unique database customized to
analyzing securities listed on the Kuwait Stock Exchange.
The database is an in-house creation that utilizes the
latest modeling methodologies combined with qualitative
analysis to obtain dynamic and practical valuations on
listed companies.
Coast Investment and Development Company is
one of the leading financial institutions in Kuwait and the
region. Coast was established in 1975 and listed on the
Kuwait Stock Exchange in 1989. Its current paid-up capital
is 52 million KWD (180 million USD). Coast is engaged in a
variety of investment management activities such as private
equity, asset management and real estate investments both
locally and internationally. Coast is also an active player
in the local, GCC and international markets offering a wide
array of investment services including portfolio and fund
management, advisory services, corporate finance and
investment banking services.
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24 January 2006
Coast and FTSE Sign a Collaboration Agreement
Kuwait & London,: FTSE Group
(“FTSE”) the global index company, has today signed an
agreement in Kuwait with Coast Investment and Development
Co. (“Coast”) the leading and prominent investment house in
Kuwait, to collaborate on a new custom equity index for the
Kuwait market. The index, named the Coast Kuwait 40, will
contain equities listed on the Kuwait Stock Exchange, and it
will use the globally recognised Industry Classification
Benchmark (ICB) as the basis for its stock classification.
Today’s agreement is an innovative move to bring
international index standards to the Kuwait market,
providing international and domestic investors with tools to
assist with benchmarking, analysis and the creation of
derivatives.
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Imogen Dillon-Hatcher, FTSE’s Managing
Director, EMEA said, “FTSE has a long history of innovation
in the index business, and we are delighted to be selected
by Coast to work together in Kuwait. We look forward to a
long and productive working relationship and to developing
further indices in the series.”
Khaled AbdulAziz Al-Usaimi, Managing Director
of Coast Investment and Development Co, said, “ We are
pleased to work with FTSE in this exciting project. The
objective of the collaboration is to enhance the market’s
current underlying mechanisms. Coast, being a vital
financial institution and an effective contributor to
Kuwait’s development and economic prosperity, has taken the
initiative in improving the underlying operational structure
in the Kuwaiti financial markets through participating in
the augmentation of financial innovation and investment
research.
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The collaboration entails the licensing of
the International Classification Benchmark (ICB) to Coast
for the segmentation of the existing official sector indices
in Kuwait into more informative sector indices in compliance
with the globally recognized ICB standards. Further, the
collaboration involves the creation of the Coast Kuwait 40
Index. Coast also plans to create an Exchange-Traded Fund (ETF),
based on the new index to be listed in Kuwait, as well as
key developed equity markets.
Mr. Al-Usaimi added, “It is empirically
proven the benefits in having an exposure to Kuwait equity
market adds to a well-diversified foreign portfolio. Despite
the attractive returns our markets have experienced over the
past few years, global investors were hesitant to enter due
to the lack of a transparent, internationally recognized
vehicles that facilitates investment flows in the region and
provides adequate liquidity. Consequently, it is the
intention of Coast, in its collaboration with FTSE, to
assist individual and institutional local and global
investors through providing a comprehensive financial
framework following the latest innovations and international
standards.”
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It is expected that the further indices will
be developed in the series, to facilitate the creation of
financial products.
More information about the index is available
from www.coast.com.kw or from press offices below:
FTSE Group: Sabrina Bhangoo/Jo Mayall +44 207
866 1821 or
media@ftse.com
Coast Investment and Development Company:
Fatima Al-Salem +965 2468388 or
Fatima@coast.com.kw
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January 9, 2007
Coast Participates in
the Investment Exhibition
Coast Investment and Development
company participated in the Finance and Investment
Exhibition that took place in Al Raya Hotel between January
6 until January 8, 2007.Coast focused on displaying four
products and services. Namely, Coast was proud to present (i)
Coast Futures Services, (ii) AMAS (iii) Kuwait German
Holding Company KGH, and; (iv) Coast Investment Fund( CIF ).
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