SICO announced that it has been appointed by the Ministry of Justice, Islamic Affairs & Endowments as the investment manager for the fixed-income and equity portfolio of the Minors’ Estate Directorate. The deal was signed by the Minister of Justice, Islamic Affairs & Endowments and Chairman of the Minors’ Estate Directorate His Excellency Shaikh Khalid bin Ali Al Khalifa and SICO’s Chief Executive Officer Ms. Najla Al Shirawi.
Under the agreement, SICO will manage a USD 20 million portfolio, with the objective of creating long-term value and enhancing income and dividend distribution payouts into the Minors’ Estate Directorate accounts.
“This agreement falls within the framework of the Minors’ Estate Directorate’s strategy to enhance partnerships with the private sector, ensure diversification of the investment basket and benefit from its expertise in improving financial and investment returns, which will contribute to developing the investment portfolios of the Minors’ Estate Directorate,” said Shaikh Khalid.
“We are privileged and honored to be working with the ministry to enhance the value of the investment portfolio of the Minors’ Estate Directorate by leveraging our extensive knowledge and experience in capital markets and asset management and our long track record of outperformance. We look forward to bringing to fruition the objectives of the portfolio, which will not only benefit Bahrain’s minors but the entire community,” said Al Shirawi.
More info click here