SICO Capital, the Saudi-based asset manager and investment bank, has seen its SICO MENA Equity Fund named ‘Equity Fund of the Year’ at the 2026 GBM Middle East Awards. The recognition comes after the fund delivered positive returns in a year that saw regional equity markets slide.
Quick Facts
- 2025 Return: +2.8% vs -3.2% benchmark decline.
- Five-Year Growth: 110% absolute return.
- 2025 AUM Growth: 57% increase in assets.
Outperforming in a Tough Market
The award highlights the fund’s strong performance during a challenging 2025 for regional equities. The SICO MENA Equity Fund generated a positive return of 2.8%, directly contrasting its benchmark, which fell by 3.2%. This resulted in an outperformance of approximately 6%.
This performance placed the fund first among a peer group of 15 Shariah-compliant MENA and GCC equity funds listed on the Saudi Stock Exchange (Tadawul) for 2025. The fund has also demonstrated a strong long-term track record, delivering absolute returns of roughly 43% over three years and 110% over five years.
A Strategy of Disciplined Growth
According to the award organizer, the fund’s success was driven by its active management strategy, which is built on fundamental research and disciplined stock selection. The approach focuses on companies with strong financial fundamentals and sustainable growth prospects.
Wissam Haddad, CEO of SICO Capital, commented, “This award also recognizes our strategy to offer our investors a growing range of high-quality investment choices. The success of the SICO MENA Equity Fund, alongside the recent launch of our SICO GCC Dividends Fund, reflects that commitment, and our focus remains on broadening the choices we make available to clients as their needs evolve.”
Ali Marshad, Group Deputy CEO – Buy-side at SICO BSC (c), added, “This award reflects the strength of our Asset Management and Research teams and their ability to work together to deliver strong investment outcomes through the disciplined selection of high-quality opportunities based on in-depth research and rigorous fundamental analysis. This clear investment approach, combined with a strong commitment to disciplined risk management, enables us to create long-term value and deliver sustainable returns for our investors.”
Investor Confidence Fuels AUM Growth
The fund’s outperformance translated into increased investor trust, with its assets under management (AUM) growing by 57% during 2025. This growth was primarily driven by new client subscriptions.
The SICO MENA Equity Fund offers investors exposure to regional equities and select IPO opportunities. The firm recently broadened its offerings with the SICO GCC Dividends Fund, which provides access to a portfolio of dividend-paying growth equities across the GCC.
About SICO Capital
SICO Capital is a full-service financial services firm based in Riyadh, Saudi Arabia, and licensed by the Capital Market Authority (CMA). It is a wholly owned subsidiary of SICO BSC (c), a leading regional asset manager and investment bank headquartered in Bahrain. SICO Capital manages SAR 6.1 billion in assets under management across mutual funds and discretionary portfolios, offering services including arranging, advising, custody, dealing, and managing investments.
Source: Zawya
