Download BEF Monthly Report-Master copy_Sep_11.xlsx

Sep-2011
NAV (KD) 1.65345
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.
Monthly Fact
ct Sheet
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
The Fund’s NAV as of 29 Sep recorded KD 1.65345 per unit,
compared to KD 1.62680 per unit as of 28 Aug, thereby
recording periodical gain of 1.64%, while the KSE Weighted
and KAMCO TRW indices recorded periodical gains of 1.74% &
1.14% respectively, over the same period.
Capital
Currency
Inception
Term
NAV
Management Fee
Custodian Fee
Sales Commission
As for the valuation indicators of the securities portfolio, the
average P/E and P/B multiples for the period were 24.91X and
1.50X repectively as compared to an average market P/E and
P/B multiples of 21.67X and 1.35X respectively. On the other
hand, weighted average yield for the Fund's equity portfolio
was 2.67%, as compared to 4.60% for the market.
KSE Weighted Index vs. BEF Performance
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)
1.65345
Fund Structure
Sep-11
Aug-11
Securities Portfolio
70.41%
52,902,013
Cash & Equivalent^
29.59%
22,233,586
100.00%
75,135,599
Jul-11
Jun-11
Total Current Value
May-11
A
Apr-11
11
Securities
Portfolio
70.41%
Mar-11
Feb-11
Jan-11
Dec-10
Nov-10
Oct-10
-10%
Oct-10
-8%
Nov-10
-6%
Dec-10
Jan-11
-4%
Feb-11
-2%
Mar-11
0%
2%
4%
6%
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
KSE Weighted Index
0.87%
-0.96%
4.00%
1.22%
-7.57%
-3.25%
4.80%
-1.64%
-3.94%
-2.84%
-4.78%
1.74%
BEF NAV
1.32%
-3.48%
1.99%
1.24%
-5.39%
-1.29%
2.86%
0.03%
-3.67%
-3.84%
-6.44%
1.64%
BEF Sector Weightings as of 29 Sep-11
Cash &
Equivalent^
29.59%
^ Net of fees & expenses
Top 10 Equity Holdings as of 29 Sep-11*
Banking
51.47% National Bank of Kuwait
20.82%
8.31% Kuwait Finance House
13.25%
Investment
Real Estate
17.09% Mabanee Co.
Industrial
10.13%
6.47% Kuwait Projects Co.(Holding)
Services
4.54%
14.67% Combined Group Contracting Co.
3.10%
Food
1.90% Kuwait Hotels Co.
3.00%
Non Kuwaiti
0.09% Kuwait Foods Co. (Americana)
1.34%
ACICO Industries Co.
1.30%
Commercial Bank of Kuwait
1.27%
Total KSE Sectors
Industrial
6.47%
100.0%
Services
14.67%
Gulf Cable & Electrical Ind. Co.
Food
1.90%
Total Top 10 Equity Holdings
Non Kuwaiti
0.09%
*: Securities weights are expressed as a percentage of the Fund's Net Assets
#
Real Estate
17.09%
Investment
8.31%
8
31%
Banking
51.47%
1.24%
59.99%
40.0% cash distribution was announced for unit holders as of 31 August 2005
Burgan Bank
P.O. Box 5389 Safat
13054 Kuwait
K
i
Phone: + (965) 298 8000
http://www.burgan.com