SICO's fixed income strategy wins award
SICO, a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today that it has won the prestigious award of Best MENA Fixed Income Strategy over 1 Year for 2024 by Global Banking & Markets Middle East Awards.
The strategy achieved a remarkable net return of 5.4% in 2024, significantly outperforming the FTSE MENA Broad Bond Index, which recorded a return of 3.4%. This recognition marks the second time that SICO has received this esteemed award, following their recognition in 2022.
As of March 2025, SICO has $7.9 billion in assets under management including six main GIPS Composites, alongside other customised management portfolios and three public funds in fixed income and money market strategies.
Ali Marshad, Group Head of Fixed Income Asset Management at SICO, said: 'We are honoured to have once again received this prestigious recognition, which reflects our commitment to excellence in delivering value to our clients. This achievement is a testament to our investment philosophy, strong trading infrastructure, and dedicated team, especially in a year that proved challenging for this asset class. Additionally, our strategic presence in Saudi Arabia through SICO Capital further enhances our ability to support clients in the region and drive impactful investment outcomes. Our goal is to build on this success by helping our clients achieve consistent and sustainable above-average returns, ensuring they benefit from our expertise in the evolving market landscape, while offering better protection on the downside.'
Manuel Al Mutawa, Vice President of Fixed Income Asset Management at SICO, highlighted the strategic approach that led to this success, commenting: 'What helped us last year despite the market volatility was that we focused on maintaining a neutral duration with a skew towards non-investment grade assets, an overweight position in Egypt and Saudi, as well as particular security selection in high-yield corporates. Our regional diversification and active management allowed us to capture attractive opportunities across both sovereign and quasi-sovereign and corporate issuers, while maintaining a strong risk-adjusted return profile for our clients.'
Following the success of its SICO Fixed Income Fund, which was launched in 2013, SICO expanded its offerings by introducing the Shari'ah-compliant Elzaad Sukuk Fund in 2023, which complements the existing SICO Capital Murabaha Fund for Shari'ah investors. These initiatives allow clients to capitalize on short-, medium-, and long-term market opportunities while providing numerous customized products yielding high single-digit returns.
'Congratulations to SICO on this well-deserved recognition," said Victoria Behn, Managing Director of Global Banking & Markets. 'In a year defined by volatility and uncertainty, SICO Asset Management's Fixed Income Fund has stood out as a beacon of stability and skill. SICO proved its tactical excellence across MENA's complex debt landscape. With active positioning across sovereign and corporate bonds, a sharp focus on liquidity, and rigorous credit discipline, SICO managed to protect capital while capturing upside. In a market where preservation and performance rarely align, SICO's Fixed Income strategy is the clear choice for Best MENA Fixed Income Fund, 1 Year.' -
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