"Wafra" manages USD 18.6 bln in total assets

KUWAIT, Oct 12 (KUNA) -- Regional Director of Wafra Investment Advisory Group, New York, Ghazi Al-Hajeri said that the company continued to make profits year after year since its inception, bringing the total assets under management to about USD 18.6 billion in mid-2015.
According to Al-Hajeri, the Company invests 17 percent of these assets in "Wafra Capital partners", an affiliate company that specializes in Islamic finance and is totally managed by "Wafra." While 22 percent of these assets are allocated to alternative investments, 14 percent to private assets, 14 percent are invested in securities, and 17 percent of assets are invested in real estate.
Direct investments constitute 3 percent of the total assets and "other" investments make up the final 13 percent of the total assets.
Al-Hajeri also stressed the importance the Company attaches to human capital development with the aim of capacity-building and fine-tuning of Kuwaiti citizensآ’ skills and capabilities to prepare them for the challenges they will have to meet when they work in investment fields.
He said that more than 150 Kuwaiti and Gulf nationals were trained in specialized programs that included guidance and planning, portfolio management, analysis of stocks and bonds, negotiation skills and other advanced programs.
The companyآ’s distinguished clients in Kuwait include The Public Institution For Social Security (PIFSS), Kuwait Investment Authority, the Kuwait Fund for Arab Economic Development, Kuwait Petroleum Corporation, the Arab Fund for Economic and Social Development and the National Bank of Kuwait (NBK).
Its most prominent clients in the Gulf are the General Retirement and Social Insurance Authority in Qatar, Oman Fund for Economic and Social Development, Arab Investment Company and Sedco Holding, the Saudi Sharia compliant investment company.
These remarks was made by Al-Hajeri in a press conference to celebrate the company's 30th anniversary. The company will host a gala dinner party hosted by the company's chairman Hamad Mashari Al-Humaidhi in Bait Al-Othman Museum on October 19.
The dinner party will be attended by a group of prominent business and investment leaders in Kuwait and the Gulf Region. (end) fh.nfm