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BBK-ING MENA Fund” Successfully Liquidated

BBK, Bahrain’s pioneer in retail and commercial banking, announces the successful liquidation of the “BBK - ING MENA Fund”. This follows an earlier decision by ING to close the fund, which had achieved a healthy return for its investors of more than 55% since its launch.
BBK and ING originally launched this fund (an open-ended equity fund) in 2010. The objective of the fund was to enable clients to invest in a portfolio of GCC and MENA stocks in order to achieve long-term capital appreciation. Following the liquidation of the MENA fund, all proceeds from investments in the fund have now been returned to investors.

Announcing the successful liquidation of the BBK – ING MENA fund, Mr. A. Karim Bucheery, BBK’s Chief Executive, said: “At BBK we are committed to offering our clients a comprehensive range of investment products. As always , the Bank strives to making these opportunities available to our investor base by hand-picking and identifying investment opportunities though effective due diligence and market research that will enable our investors to achieve high returns .”

The fund was ‘AA’ rated by Standard & Poor’s which fetched an array of new investors thanks to the various advantages & benefits that rarely exist in the market; with 55% return since inception, no performance fee, no redemption charges and no lock up period. This brought in a great mix of both returns and the ability of flexible exiting.

With BBK’s commitment to its sophisticated investors who enjoy a high level of liquidity and are awaiting the right opportunity to allocate their funds, where the risk to return ratios are appropriate, new investment products focusing on different markets are being explored by BBK

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