Type Closed Shareholding Founded 1998 | Headquarters Kuwait City, Kuwait Parent organization KAMCO Investment Co KSC | |
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Industry Asset Management and Financial Services Key people Abdullah Nasser Al-Sabah, Chairman
Faisal Mansour Sarkhou , CEO Services Asset Management
Financial Services and Investments
Investment Advisory and Research Revenue USD 84.1 million (KWD 23 million) in 2008 | ||
KAMCO Investment Company KSC (KAMCO) was established in 1998 as a subsidiary of United Gulf Bank (UGB) – the investment banking subsidiary of Kuwait Projects (Holding) Company, i.e., KIPCO and specialises in asset management and financial services in Kuwait and the Middle East and North Africa (MENA). Having increased its share capital from KD 15 million to KD 20 million in June 2003, KAMCO was listed on the Kuwait Stock Exchange (KSE) in October of the same year. KAMCO’s current capital stands at KD 26.33 million distributed among 263.3 million shares with a par value of 100 fils each.
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Key Business Divisions
KAMCO has three key business divisions:
Asset Management – which offers services such as securities trading, derivative trading, portfolio structuring and asset allocation advice, brokerage services, tailored portfolio management services, mutual funds, access to IPOs and privatization issues and alternative assets. The Division's MENA Asset Management Department offers investors comprehensive access to Kuwaiti and other Middle East capital markets. The International Asset Management Department monitors the wide variety of investment instruments that are available in the global capital markets. Among the Department's core services is a discretionary international portfolio, customized to meet each investor's requirements and objectives.
Financial Services and Investments - includes the Direct Investment Department - responsible for KAMCO’s proprietary investments, strategic product development and subsequent product launch activities; the Private Equity Department - established to cater to the growing demand for such services in Kuwait by investing in private equity deals in regional and global sectors, including telecom, technology, real estate, healthcare and traditional service companies ; the Strategic Projects Department – tasked with providing KAMCO’s senior management with relevant insight into and analysis of various companies in order to facilitate better co-operation with and management of these organizations; and the Corporate Finance Department.
KAMCO's Corporate Finance Department provides comprehensive products and services, including advice on corporate strategy, mergers & acquisitions, corporate restructuring and the raising of capital in equity and debt markets. In addition to seller/buyer representation, target research and transaction negotiation, the Department provides essential support to clients during their investment decision-making process by overseeing feasibility studies, valuations, legal advisory and other due diligence processes to ensure more effective transaction implementation. In the period from mid-2001 up to June 2009, KAMCO successfully completed 64 key Corporate Finance transactions for its clients with an aggregate value of KD 2.55 billion (approximately $9.05 billion).
Investment Advisory and Research - monitors the latest directions and trends in the Kuwaiti economy and stock exchange, and regional stock markets. The Division provides investors with extensive data on all companies listed on the Kuwait Stock Exchange and publishes periodic reports on the seven GCC equity markets, market reports analyzing economic and money trends in Kuwait and developments in the oil market, investment reviews through equity research reports on local listed companies. The Division will expand its market coverage to include other markets in the MENA region and will introduce a new package of KAMCO TRW Indices that track the performance of the GCC equity markets.
Investment Funds
KAMCO manages several mutual funds including the Bond and High Yield Fund, the KAMCO Investment Fund, the Al Jazi Money Market Fund and the KAMCO Energy Services Fund. In addition, the Private Equity Department at KAMCO manages the Kuwait Private Equity Opportunities Fund which invests in private companies in Kuwait; the Kuwait Education Fund in association with the National Offset Company - a specialized fund dedicated to the development of the education sector in Kuwait; and the National Investment Fund Portfolio for small and medium-sized projects which is an investment portfolio managed on behalf of the Kuwait Investment Authority (KIA).