Feb-2011
NAV (KD) 1.84815
Investment Objective
Investment Policy
Balanced investment policy that aims at long term capital gains
with minimum possible risk to accommodate the fund's nature.
Fund's manager may invest in short and mid-term money
market/debt instruments until proper investment opportunities
arise.
To provide investors with high returns by investing the
funds' assets in local securities that are listed on the Kuwait
Stock Exchange. The bulk of the fund's investments are in
the financial sectors of the stock market, namely in the
Banking and Investment.
Fund Performance
Fund Data
Monthly Fact
ct Sheet
The Fund’s NAV as of 27 Feb recorded KD 1.84815 per unit,
compared to KD 1.95344 per unit as of 23 Jan, thereby
recording periodical loss of 5.39%, while the KSE Weighted
and KAMCO TRW indices recorded periodical loss of 7.57% &
5.69% respectively, over the same period.
As for the valuation indicators of the securities portfolio, the
average P/E and P/B multiples for the period were 19.26X and
1.67X repectively as compared to an average market P/E and
P/B multiples of 19.02X and 1.54X respectively. On the other
hand, weighted average yield for the Fund's equity portfolio
was 2.34%, as compared to 3.31% for the market.
KSE Weighted Index vs. BEF Performance
Capital
Currency
Inception
Term
NAV
Management Fee
Custodian Fee
Sales Commission
KD 75 million
Kuwaiti Dinars
9-Dec-01
10 years open-ended
Calculated Monthly
1.75% p.a.
0.10% p.a.
0.50%
NAV (KD)
1.84815
Fund Structure
Feb-11
Securities Portfolio
69.61%
59,427,967
Jan-11
Cash & Equivalent^
30.39%
25,941,257
100.00%
85,369,224
Dec-10
Nov-10
Total Current Value
Oct-10
Sep-10
Securities
Portfolio
69.61%
Aug-10
Jul-10
Jun-10
May-10
Apr-10
Mar-10
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
KSE Weighted Index
3.73%
-1.86%
-2.32%
-5.99%
4.20%
4.45%
7.74%
0.87%
-0.96%
4.00%
1.22%
-7.57%
BEF NAV
2.41%
-2.42%
-1.63%
-3.93%
3.56%
4.27%
6.60%
1.32%
-3.48%
1.99%
1.24%
-5.39%
^ Net of fees & expenses
BEF Sector Weightings as of 27 Feb-11
Banking
Investment
Real Estate
Cash &
Equivalent^
30.39%
Top 10 Equity Holdings as of 27 Feb-11*
53.93% National Bank of Kuwait
21.69%
8.64% Kuwait Finance House
13.91%
12.56% Mabanee Co.
Industrial
6.90%
6.79% Kuwait Projects Co.(Holding)
Services
4.65%
15.65% Combined Group Contracting Co.
Food
1.67% Kuwait Hotels Co.
Non Kuwaiti
0.75% ACICO Industries Co.
3.90%
2.32%
1.42%
Tamdeen Real Estate Co.
100.0% Commercial Bank of Kuwait
Total KSE Sectors
Industrial
6.79%
1.26%
Services
15.65%
Food
1.67%
Non Kuwaiti
0.75%
1.25%
Agility (PWC Logistics)
Total Top 10 Equity Holdings
1.22%
58.55%
*: Securities weights are expressed as a percentage of the Fund's Net Assets
#
Real Estate
12.56%
Investment
8.64%
Banking
53.93%
40.0% cash distribution was announced for unit holders as of 31 August 2005
Burgan Bank
P.O. Box 5389 Safat
13054 Kuwait
Phone: + (965) 298 8000
http://www.burgan.com