KIPCO Asset Management Company (KAMCO) has announced the beginning of a new round of subscription for KAMCO Real Estate Yield Fund (KREYF), which will continue until June 29th.
The Fund, which is the first local fund in Kuwait to receive Capital Market Authority (CMA) approval for fund-raising in late 2013, invests in the real estate sector directly and indirectly and sells, buys and leases locally and regionally.
KAMCO Chief Investments Officer Ziad Al Qaissi said: "This Fund is in line with KAMCO's strategy of launching an array of new and attractive investment products to serve its growing client base." "KREYF is an open-ended real estate investment fund denominated in USD, with a variable capital of between USD 18 million to USD 550 million," he said.
Al Qaissi referred to the strong positioning and rapid development of the real estate sector in the local and regional markets, specifically in the income generating real estate properties arena.
The robust dynamics of the sector have motivated KAMCO to launch such a Fund that mainly focuses on investing in unique low-risk real estate assets that have attractive returns, while simultaneously aiming to generate steady cash flows during the investment period, via the distribution of quarterly cash dividends.
"The real estate sector is a fundamental component in every investment portfolio, as it has proved to be a stabilizing factor during challenging times, especially the income yielding real estate investments," he added Moreover, KAMCO is committed to developing and providing access to diversified investment products in the local market which contributes to the growing stability of the economic and investment environment in Kuwait, Al Qaissi pointed out.
Established in 1998 with the mission to become a leading local and regional player, KAMCO is today one of the leading Kuwait based Investment Companies. A subsidiary of United Gulf Bank (UGB) - the investment banking subsidiary of Kuwait Projects (Holding) Company (KIPCO) - KAMCO was listed on the Kuwait Stock Exchange (KSE) in 2003.
Over many years of conducting business in Kuwait's dynamic investment industry, KAMCO has established a robust reputation for performance, characterized by its prudent and conservative investment philosophy which has consistently commanded the goodwill of a wide client base. KAMCO's main activities are in Asset Management and Investment Banking.