ShareRecognition by International Finance is culmination of NIC’s outstanding performance
Fahad Al-MukhaizimKUWAIT: National Investments Company (NIC) bagged the “Fastest Growing Investment Company Award” in Kuwait for the year 2021 from the International Finance Awards. This award was the culmination of the company’s remarkable efforts and outstanding performance.
It is worth noting that the UK-based International Finance Awards is one of the leading international specialized magazines. The selection for the award was based on a wide range of investment criteria set by financial and business experts, the most important of which is the number and size of deals, services and investment advisory provided, and efforts to cope with the market, in addition to the advanced innovation and the outstanding performance locally and internationally.
“Winning this prestigious award confirms the company’s flagship position in the local market, its steadily continuing success, and its prudent management. It also reflects the great efforts of the team whose members enjoy a long track record of extensive experience and achievements and professionalism of working in accordance with a strategic policy based on accurate technical standards in capturing investment opportunities that keep pace with the aspirations and goals of customers. The company is moving forward in gaining global and regional awards in recognition of its growth and development over the last years”, NIC said in a press release.
Chief Executive Officer, Fahad Al-Mukhaizim pointed out that this international award from a reputable and reliable global institution is yet another testimony of the prominent position of NIC in the local and regional markets, the professional team, and the outstanding and extraordinary performance in providing high-quality, advanced and innovative investment services and products that cope with the market conditions and challenges.
Al-Mukhaizim added that the NIC succeeded in bagging many awards and certificates in recognition of its achievements over the last years, which witnessed an expansion in its business and activities despite the global, regional, and local difficulties of the economy due to the repercussions of the pandemic, indicating the prudent and balanced policy of the NIC was recognized by the international and regional institutions.
Products and services
Al-Mukhaizim underlined the recently launched products and services, indicating NIC has launched the electronic portal service for customers through the company’s website. This is part of the company’s digital transformation efforts. He added that the new electronic portal service “Client Portal” will enable customers to access all services and products in the easiest way, not to mention save time and raise the level of automation, while achieving the company’s strategic goals in offering high quality services.
Al-Mukhaizim revealed that NIC is in process of rolling out NICTRADE digital platform for trading in Boursa Kuwait, GCC and USA markets in addition to 80 global markets. This adds value to customer experience when utilizing advanced technology through the website or the mobile trading apps.
Moreover, he emphasized that NIC is keen to provide investment products that keep pace with the ambitions and aspirations of customers away from traditional ways, as the company succeeded on August 22, 2021 in launching the Market Maker service, pointing out that the market maker is responsible for providing liquidity to the company that benefits from the service through purchase and sell orders. The stock of Boursa Kuwait Company was chosen to be the first company that will benefit from the service, in addition to Gulf Cables Company. He expected that more other companies will be added over the next few weeks.
New investments
On the other hand, Al-Mukhaizim illustrated that the company’s Banking Investment Sector succeeded in attracting many new investments in the infrastructure, credit and information technology sectors. The company started the year 2021 with a strong set of mandates, which included several mergers and acquisitions in favor of its customers, sales and restructuring operations, as well as contracts to provide general advisory services.
Al-Mukhaizim explained that as part of NIC’s expanded investment strategy of eying the technology sector, the company has recently succeeded in investing in the US-based (Pipe Technologies) company, which specializes in fast-growing fintech, clarifying it is the first trading platform in the world for recurring revenues with an estimated value of roughly $2 billion.
Seizing opportunities
Al-Mukhaizim added that NIC succeeded in strengthening its position, seizing unique opportunities in the market, and providing good investments to customers, saying that NIC has been working on building capabilities and developing a proven track record of implementing operations with the highest quality and focus on medium-sized customers, confirming that this strategy provided an excellent platform during 2020 and 2021. He noted that NIC has succeeded in executing many pioneering deals, explaining that the company is building specialized teams in capital markets, mergers and acquisitions, and venture capital, which the company has identified as key growth areas.
He reiterated that during 2021, NIC succeeded in coping with the pandemic and its effects, while focusing on digital transformation that creates more resilience to the company in both the operational side and the customer service. This also contributes to focusing on investing in sectors that demonstrated different performance during the pandemic. The company puts forth an extra effort towards increasing the diversity of its products to its existing customers while attracting more new customers.
“Our efforts paid off. NIC has reported significant growth in the size of fiduciary assets under management (AUM) during the first half of 2021, which amounted to KD1.1 billion, an increase of 6.4 percent. The company has been seeking to provide above-average returns to the company’s portfolio customers while preserving capital and successfully managing several diversified investment services,” Al-Mukhaizim mentioned.
He indicated that NIC has a proven track record of distinguished relations with customers and long-term partnerships built on confidence and prudence in wealth management, while providing integrated products, solutions and plans, and adopting novel approaches of investment in wealth management. During 2021, the company succeeded in attracting new capital from funds and investment portfolios customers approximating $75 million.
Al-Mukhaizim said that the Wealth Management Sector launched the electronic portal system (Client Portal), which helped clients follow up on their investments while giving them the ability to execute orders in a direct and effective manner, not to mention with other features such as comprehensive analysis of their investments from portfolios and funds in an innovative way among other comprehensive solutions to achieve customers’ investment goals and meet their aspirations.
2021 awards
Al-Mukhaizim pointed out that the year 2021 is one of the distinguished years for NIC during which the company won four prestigious international awards from well-known international institutions and magazines. This confirms its pioneering role locally and regionally, where winning such awards is a testimony of the pioneering position of NIC and reflects its ability to compete and gain the investment community confidence. He went on to say that the awards confirm that the company is on track and is working in accordance with transparency and governance practices that ensure customer satisfaction, especially in light of the professionalism that the company follows in all its activities and with the different supervisory and regulatory authorities. He added that NIC is one of the few companies that can meet the ambitions of customers in the local and regional markets thanks to its efficiency and competency in assuming responsibility in an optimal manner.
Al-Mukhaizim expressed his thanks and appreciation to NIC’s team for their efforts to achieve this outstanding performance and the growth, which is in line with the set strategy and the commitment to achieving the best results for customers by supporting investment decisions with accurate research and investing in quality assets, in addition to the absolute support of the Board of Directors and the Executive Management. He said that this approach will efficiently continue to optimally meet customers’ ambitions at all local and regional levels.
