KUWAIT: Kuwait Financial Centre (Markaz) has announced a return of 2.48% for the year-to-date on the performance of its Markaz Fixed Income Fund despite current political tensions in the Middle East.
The fund registered a loss of 0.15% at the end of the first quarter this year due to turmoil in the region.
However, the fund posted positive gains in the second quarter, achieving monthly returns of 1.37% in April and 1.08% in May, following signs of improved stability in the region and strong performance from the bonds and Sukuk market.
Markaz Fixed Income Fund has been operational since January 2011. It invests in bonds and Sukuk issued by GCC governments and firms.