Global Islamic Fund of Funds Ranked Number One

Al-Bawaba – The Global Islamic Funds of Funds has demonstrated excellent performance in terms of returns and stability and has consistently outperformed other funds in the same category.

Global Investment House “Global” announced today that its Global Islamic Fund of Funds was ranked number one in July 2008 by Zawya. The Fund recorded a +5.72% YTD return and was posted on the homepage of the Zawya platform, where only leading funds make it there.

Global launched the fund in July 2007 in order to actively evaluate and invest in the growing number of Shari’a compliant products. With a dynamically evolving Hedge Funds team and an established track record of erudite investments across 80 different hedge fund managers, this fund has greatly benefited from the experience of the Hedge Fund team.

Mr. Omar El-Quqa, Executive Vice President at Global said, ”It is worth mentioning that, in the first 12 months since inception the fund has recorded a creditable performance of 11.00%, of which nearly 6% has been achieved in the first half of 2008”. Mr. El-Quqa further added, ”It must also be noted that on a panoramic landscape, clouded by credit crisis in the global markets, where the shallow waters of uncertainty threatened to return, this fund has done tremendously well. One of the key element to this performance is that the fund adopts aggressive strategies accompanied by low volatility of only 4.5% as compared to the other Islamic funds that portray high volatility”.

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