11/11/2015 06:09 AST

Global Investment House (“Global” or the “Company”) announced its financial results for the nine months ended Sept 30, 2015. During 9M 2015, the Company recorded a net profit of KD 5.9 million (US$19.6 million), total income of KD 13.1 million (US$43.2 million) and fee revenues of KD 9.9 million (US$32.8 million).

During 9M 2015, the Asset Management business remained resilient with KD 1.1 billion (US$4 billion) of assets under management. Several funds managed by Global outperformed their respective benchmark indices and peers. Our asset management teams remained focused on launching products and services best suited to our clients’ investment needs offering recurring income/yield accompanied with low volatility. Our Special Situations Asset Management team signed a portfolio management agreement with one of the Kuwaiti banks to manage its portfolio of special situation assets worth US$40 million.

Special Situations Asset Management offers tailored asset management solutions to clients seeking value enhancement and optimal realization of portfolios that are considered non-core and difficult to manage. It covers a spectrum of assets including listed and private equities, alternative investments, among others, across the MENA region. Global’s Saudi branch with a US$185 million AuM remains one of the leading non-bank asset manager in the Kingdom of Saudi Arabia.

The branch’s flagship fund continued to outperform its benchmark. During the period the Company, with the assistance of its regional branches, raised approximately US$150 million of new money in various strategies including income-yielding UK real estate, cash management, special situations and GCC equities.

On the brokerage front Global made focused efforts to grow the institutional brokerage business leading to gains in Kuwait market share. However, due to decline in the market turnover in most key markets where Global operates, the brokerage business remained challenging.

During 9M 2015 the Company’s Investment Banking team successfully completed several mandates ranging from a bond issuance to a buy side M&A mandate. The team is currently working on several mandates and has an interesting pipeline of M&A and equity capital markets mandates.

In early 2015 we inaugurated our Dubai International Financial Centre (DIFC) operations through a wholly owned subsidiary to strengthen our presence in one of the major capital markets in the region and serve its UAE client base. Global has a healthy capital structure, conservatively deployed primarily in liquid and operating assets with no external debt and a capital base of KD 89.8 million (US$296.8 million).

Maha Al-Ghunaim, Vice-Chairman & Group CEO said, “The year 2015 has proven to be an extremely challenging year for the GCC markets. Low oil prices and geo-political uncertainties have made regional economic outlook tougher and are taking a toll on the regional equity markets, investment banking deal flows and new money raising efforts. Despite these extremely volatile and challenging times, we continue to maintain our profitability momentum and to create value for our stakeholders through our resilient and robust fee-based business model, offering the right products & services to meet our clients’ expectations”.

Arab Times

Global Investment House proposes 5% cash dividend


Global Investment House said on Wednesday that it proposed to pay 5 per cent cash dividend to their shareholders.

The Mena region focused investment bank reported a net profit of 2.5 milli

Gulf News

Global concludes exit from JOTF for $29m


Global Investment House (Global) announced that its alternative asset management arm, Global Capital Management (GCM), concluded a successful exit from the controlling 93.27 percent stake in Jordan T

Arab News

Global Investment House cuts capital to nullify loss


Shareholders of Kuwait’s Global Investment House have approved the write-off of 94.7 million dinars ($327.9 million) of the company’s losses through a capital reduction, the investment firm said in a


Ticker Price Volume
QNBK 179.79 137,952
APPC 47.80 942,051
SAICO 10.56 245,021
SABIC 124.00 5,999,558
ALAWWAL 14.36 4,539,375
ENAYA 16.30 180,837
ALMARAI 45.00 1,409,490
GIH Sector Market
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
EKHOLDING 341.00 0.00 (0.00%)
KPROJ 205.00 -2.00 (-0.97%)
NIND 156.00 2.00 (1.29%)
ALIMTIAZ 127.00 0.00 (0.00%)
FACIL 176.00 6.00 (3.52%)
Emaar Development offers up Dh1bn shareholder dividend


Emaar Development proposed a special cash dividend to shareholders representing 26 per cent of paid-up share capital, and plans to hold a vote on the proposal in a general meeting on Wednesday.

The National

Bank Muscat and Ominvest sign RO 120m long-term credit facility


Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’, and commitment to partnership in sustainable development, signed a lon

Oman Daily Observer

Etisalat Digital offers glimpse into future of retail


Etisalat Digital is embracing the future of retail at this year’s Gitex Technology Week, offering a seamless shopping experience through face recognition, artificial intelligence, image recognition a

Trade Arabia

Mobily, Huawei tie-up for bringing 5G to Saudi Arabia


Saudi Arabia’s Mobily and Huawei have agreed to collaborate on a five-year plan to upgrade Mobily’s networks and accelerate the arrival of 5G to the kingdom.

The announcement was made at

Trade Arabia

Aramco catalyst for India’s oil and gas sector growth


Saudi Aramco played a central role in the second India Energy Forum att the invitation of the Minister Dharmendra Pradhan and the Indian Ministry of Petroleum and Natural Gas.

Hosted by CE

Saudi Gazette