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FINANCIAL NEWS
Kuwait’s Global house logs USD19.3m in net profit
10 Nov 2015
(MENAFN) Global Investment House, the Kuwaiti investment company posted USD19.3 million in gross profit for the nine months to Sept, while overall revenues touched USD43.2 million, based on recent reports.
The Asset Management firm stayed strong with USD4 billion of assets under management, plus several funds managed by Global outperformed their respective benchmark indices and peers.
Moreover, the company agreed on a portfolio management agreement with one of the Kuwaiti banks to manage its portfolio of special situation assets worth USD40 million, which tells more about its success.
Additionally, with the help of its regional outlets, the firm raised USD150 million of new money in many schemes with income-yielding UK real estate, cash management, special situations and GCC equities.
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