Jun 23 2014
In This Article
Bank Alkhair
Manama, Bahrain: 23 June, 2014: Alkhair Portfoy Turkey, a subsidiary of Bahrain-based
Bank Alkhair
, an Islamic wholesale bank, has announced that its Istanbul Fund has been ranked first in annualized returns to end of May 2014. The Istanbul fund’s annualized return is 23.22% and its year to date return is 12.5%. Eurekahedge, the world’s largest alternative investment funds research house specializing in hedge fund databases, ranked the Istanbul Fund’s performance ahead of approximately 600 competing global Islamic mutual funds.
Commenting on the announcement, Mr. Ali Ilhan, General Manager of Istanbul-based Alkhair Portfoy Turkey, said: “We are very proud to have achieved this ranking acknowledging the excellent performance we have achieved for our investors. Our business in Turkey continues to expand in line with our business plan which provides our clients a full range of offerings to take advantage of the high growth being realized in the Turkish market”.
Commenting on the Istanbul Fund’s performance, Mr. Yousef Al-Shelash, Chairman of
Bank Alkhair
, who was recognized for his outstanding role in many regional and international institutions and featured as one of the World’s 100 Most Powerful Arabs by Arabian Business this year, said: “This ranking for our Istanbul Fund, ahead of some 600 Islamic funds globally, is another example of how the Bank’s refocused business model is achieving its objectives for investors. This achievement confirms that we have the right approach and the right people in
Bank Alkhair
and we expect to have more good news to share as the year progresses”.
About Bank Alkhair
Founded in 2004 and headquartered in Bahrain,
Bank Alkhair
is an Islamic wholesale bank licensed by the Central Bank of Bahrain, with an international presence in Saudi Arabia, Malaysia and Turkey.
Bank Alkhair
has completed several landmark transactions since its inception, including the establishment of t’azur, a regional Takaful company and the acquisition of Bahrain Financing Company, the oldest and one of the leading foreign exchange and remittance houses in the GCC.
© Press Release 2014
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