FALCOM Financial Services and SEDCO Capital announce partnership

16/07/2014 14:07 AST

FALCOM Financial Services and SEDCO Capital signed a strategic partnership agreement in Riyadh, according to which SEDCO Capital will manage the investment portfolio of FALCOM Arab Markets registered at the Capital Market Authority.

Commenting on the newly concluded partnership, Hasan Al-Jabri, Chief Executive Officer of SEDCO Capital said, "We look for the best investment opportunities for our clients. Our partnership with FALCOM Arab Markets is an opportunity to work with one of the leading investment companies in Saudi Arabia. We will build on our expertise in fund management and our team's capabilities in Arab and Gulf markets' shares management to culminate the success of the Fund. Our commitment and belief in Arab markets, our partnership with FALCOM, and our comprehensive study of the Fund have given us confidence in our capacity to successfully and effectively undertake its management."

On the importance of this strategic partnership, Adib bin Abdulrahman Al-Suwailem, Chief Executive Officer of FALCOM, said, "SEDCO Capital has earned our confidence thanks to its extensive experience in fund management and outreach to local, Arab, and international markets. We look forward to SEDCO's management of our Arab markets Fund investment portfolio. We believe that closer cooperation between companies and Islamic investment funds creates high income generating funds and long-term growth of capital funds, especially when run by the best, highly experienced managers and professionals."

Yazan Abdeen, Fund Manager at SEDCO Capital, will manage FALCOM Arab Markets Fund. Yazan has an experience of more than 12 years in analysing and evaluating companies in the Middle East and offering professional services to clients through managing equity funds in Middle East markets.

On this partnership, Yazan said, "We are delighted that our practical vision was worthy of the trust of a leading financial company FALCOM. Our agreement to manage FALCOM Arab Markets Fund is a positive step to promote the position of SEDCO Capital as a strategic partner in investment management locally, regionally, and internationally. FALCOM Arab Markets Fund licensed by Saudi Capital Market Authority in 2010 is an open public fund which invests in Sharia compliant listed equities in Arab Markets under the supervision of the Capital Market Authority, with special focus on Gulf Cooperation Council countries. The investment objective of the Fund is long term capital appreciation and growth of invested capital. The Fund achieved excellent return performance exceeding 30 per cent in 2013."

CPI Financial