KIPCO Asset Management Company (KAMCO) has received approval from Kuwait’s Capital Markets Authority to launch KAMCO Real Estate Yield Fund (KREYF).
KREYF is an open-ended real estate investment fund denominated in USD, with a variable capital of between US$18 million to US$550 million.
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The fund has been launched in response to the rapid development of the real estate sector in the local and regional markets, specifically in the income generating real estate properties space.
According to KAMCO, the new fund will invest in the real estate sector directly and indirectly and will sell, buy and lease locally and internationally.
In addition to generating steady cash flows during the investment period, KREYF aims to invest in low-risk real estate assets that have attractive returns.
Ziad Al Qaissi, chief investments officer of KAMCO said: "The launching of KREYF is strongly backed up by KAMCO’s belief in the necessity for the market to have a diversified pool of investment products, which plays a big role in the enhancement of the local market and the product variety available to clients.
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By GlobalData"KAMCO is committed to developing and providing access to diversified investment products in the local market which contributes to the growing stability of the economic and investment environment in Kuwait."
