Dubai:
Alkhabeer Capital, a leading asset manager specialising in alternative investments, said on Monday its total assets under management grew by 10 per cent to 4.4 billion Saudi riyals (Dh4.3 billion), while the return on investment rose to 12.6 per cent.
Total operating income increased by 16 per cent to 207 million riyals, while net income grew by 6 per cent to 71 million riyals.
At the end of December 2016, total assets had increased to 1.61 billion riyals, up 16 per cent from the end of the previous year. Shareholders’ return on equity continued its upward trajectory to reach 8 per cent.
“Given the continuing backdrop of economic uncertainty, market volatility and geopolitical tensions, which adversely affected investor sentiment during the year, this constitutes a significant achievement. Based on these results, the Board of Directors will be discussing a proposal of dividend distribution to shareholders, which will mark the fourth consecutive year of dividends to be paid by Alkhabeer Capital, and recognises the unwavering loyalty and support of our shareholders,” the Chairman of Alkhabeer Capital, Musaad Mohammed Aldrees, said in a statement while announcing these results.
