ALKHABEER Capital, a leading asset management and investment firm based in Saudi Arabia, announced its financial results for the fiscal year ended Dec. 31, 2014, with its net income for 2014 increasing by 32.3% over 2013, to SR57.3 million, with total revenues growing by 26% to SR158.2 million. At the end of December 2014, total assets under management had grown by 34% to SR 3.3 billion, while the market value of Alkhabeer's investment portfolio increased by 5.7% to SR 709 million. Commenting on these results, the Chairman of Alkhabeer Capital, Saleh Mohammed Binladen, said: “As a result of the excellent financial performance which underscores the validity of our business model, the Board of Directors is recommending a dividend distribution of 5% per share before the deduction of any dues, subject to the approval of the General Assembly Meeting planned to be held on May 7, 2015. This constitutes the second consecutive year of dividends to be paid by Alkhabeer Capital, and recognizes the unwavering loyalty and support of our shareholders.” During 2014, Alkhabeer Capital continued the successful diversification of its business portfolio and product offerings. A notable achievement was the launch of five funds in one calendar year with underlying assets across different geographies and asset classes. During the year, Alkhabeer Ventures was launched as a complementary line of business, aimed at investing in the growth of the start-up community in Saudi Arabia. Also, Alkhabeer Capital made a successful exit from its first Land Development Fund. “These achievements illustrate once again the hard work and commitment of our high-caliber business teams,” commented Executive Director and CEO, Ammar A. Shata. “As a result of their concerted efforts, the company achieved a 64 percent increase in client participation in our investment funds, while the client base grew by 54 percent. Encouragingly, our efforts were recognized by the receipt of an additional prestigious financial industry award in 2014 for being awarded ‘Best GCC Equity Fund' by Banker Middle East,” he added. “People constitute our most valuable asset,” Shata pointed out, “which is why we place the highest priority on attracting, developing and retaining the best professionals in the industry.” — SG
