LHV Persian Gulf Fund was awarded the title of “Best Equity GCC Fund”

Press release

LHV Persian Gulf Fund was awarded the title of “Best Equity GCC Fund”

Zawya Thomson Reuters recognised LHV Persian Gulf Fund as the “Best Equity GCC Fund Of 2012”.

The prestigious award ceremony was held in Ritz-Carlton on April 24th in Dubai and it was attended by over 150 well-known regional investors, company leaders and asset managers. Four different characteristics were taken into account when ranking the funds – fund’s performance, fund’s risk level, the relation of fees to performance and fund’s management style.

“LHV’s biggest competitors were locally managed GCC funds. The fact that the GCC fund managed from Estonia won in this category shows that it is possible to successfully invest even when being many kilometres away. Without a doubt this is the biggest and most important recognition during the fund’s 5-year track record,” said Joel Kukemelk, fund manager of LHV Persian Gulf Fund.

Awards were given out in 26 different categories of which 9 were conventional equity fund categories: best MENA equity fund, best GCC equity fund, best Qatar equity fund, best United Arab Emirates equity fund, best Kuwait equity fund, best Saudi Arabia equity fund, best Oman equity fund, best Morocco equity fund and best Egypt equity fund. Only funds with a minimum size of 5 million USD and with a track record of at least 3 years were eligible for the ranking.

“Big contributor to the 2012 success was the timely increase of United Arab Emirates and Saudi Arabia in geographical asset allocation and the reduction of Qatari investments. The share of United Arab Emirates’ real estate sector of total fund investments was substantially increased and on the back of the recovering Dubai real estate market these stocks staged a very strong rally. GCC stock markets have continued to rise also this year but attractive long-term valuations, strong economic growth figures and huge government investments into domestic economy continue to offer substantial additional upside to the local stock markets,” said fund manager Joel Kukemelk.

As of the end of April LHV Persian Gulf Fund had a maximum 5-star Morningstar ranking for the latest 3-year period in the category “Africa and Middle East Equity”.

In the picture: Mr Hasnain Malik (Frontier Alpha Research) hands over the title of “Best Equity GCC Fund Of 2012” to LHV Persian Gulf Fund’s fund manager Joel Kukemelk.

Source: Zawya Thomson Reuters, CPI Financial

LHV Persian Gulf Fund invests in listed equities in the GCC (Gulf Cooperation Council) region – Bahrain, Oman, Qatar, Kuwait, United Arab Emirates and Saudi Arabia. The fund is publicly offered in Sweden, Finland, Norway, Estonia, Latvia and Lithuania. Fund units can be bought and sold through the following intermediaries: Pensionsmyndigheten (PPM), Avanza Bank, Nordnet, MFEX Mutual Funds Exchange, Fondmarknaden.se, Aktieinvest, Eufex Bank Ltd (Finland), Intervalor (Sweden), Festival Trade, LHV Bank, Estonian Central Register of Securities. Additional information www.persiangulffund.com.

LHV offers services to private individuals, small and medium size enterprises and institutional investors. LHV has offices in Tallinn, Tartu, Riga, Vilnius and Helsinki. LHV has more than 170 employees. LHV banking services are used by around 50 000 clients. LHV pension funds have over 110 000 clients.