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DIVISION WINS INDUSTRY AWARD FOR THIRD YEAR IN SUCCESSION
Abu Dhabi, UAE – 22nd June 2008: The National Investor (TNI) has been awarded the Best Asset Management House title at the Banker Middle East Industry Awards. A panel of industry peers shortlisted the division and the winner was decided by the Banker Middle East magazine’s subscribers who voted online. 2008 is the third year in a row that TNI has won the regional award.
TNI’s strong results and the addition of new products and capabilities in the past year attributed to the win. The three-year old division made substantial profits during the year 2007-8, and its revenue contribution also increased more than 300% from the previous year. The division’s flagship funds, The MENA Real Estate Active Fund and The UAE Blue Chip Fund both significantly outperformed their benchmarks by 25.2%, and 14.2% respectively in the past year. The implementation of new absolute return expertise and the attraction of institutional and international business are areas of focus for TNI Asset Management for the coming year.
Walid Hayeck, Senior Vice President, Asset Management said: “This is a very prestigious award which means so much as it is decided by our industry peers. We are proud to be the winners of the best asset management house in the Middle East as our products and services are amongst the most innovative and our funds are beating every other in the market on returns and volatility. We are confident on making our run of success four years in a row at next years awards.”
TNI’s Private Equity division was also shortlisted for the Best Private Equity House award. Yahya Jalil, Senior Executive Office, Private Equity said: “It is an honour to be shortlisted for such a definitive industry award in our second year of operations. With our profile growing so rapidly and our TNI Growth Capital Fund performing so well we have every confidence in winning something for the trophy cabinet next year at these awards.”
“Our joint venture with the Wyndham Hotel Group for the operation of the well established Wyndham and Ramada brands in Europe, Middle East and Africa, together with the upscale Corinthia brand, is proving to be the perfect catalyst for our management company to expand its operation in both established and new destinations. In the last year alone, the JV has enabled us to increase our portfolio by no less than six prime properties in destinations such as Algiers, Dubai, Egypt, England, Morocco and Romania.” Concluded CHI Hotels and Resorts chief executive officer and managing director Tony Potter.
The Ramada Abu Dhabi Mafraq hotel is located ten minutes from Abu Dhabi International Airport and is within easy reach of the main golf courses and racing track in Abu Dhabi.
Notes to Editor
About The National Investor: The National Investor (TNI) is a privately owned regional investment and merchant banking group. The firm comprises six strategic business units covering investment banking, private equity, asset management, real estate, principal investments, and investment research. In addition, the firm has an associate company, Gulf National Securities Centre (GNSC), which provides brokerage services as a registered member of the Abu Dhabi Securities Market (ADSM), the Dubai Financial Market (DFM), and Dubai International Financial Exchange (DIFX).