Argaam Portal is excited to reveal the winners of the prestigious Argaam Recognition Award 2022 to honor their outstanding performance during 2022.
Argaam Recognition Award recognizes the professional excellence of fund managers and IPO lead managers in the Saudi stock market, especially as 2022 was one of the hottest years on different levels, including IPOs on the Main Market – Tadawul or Nomu-Parallel Market.
The Award is granted to top performing funds with the highest returns over various terms, and IPO lead managers that achieved the highest coverage ratios.
Argaam Recognition Award is open in four categories:
1) Top Performing Funds for 2022 over one, three and five years
2) Top Performing Shariah-Compliant Funds for 2022 over one, three and five years
3) IPO Manager of The Year 2022 on the Main Market and Nomu
4) Best Trading Platform and Best Brokerage Company (Customer Service) for 2022
New categories have been added to the annual awards program this year including Top Performing Murabaha Fund.
Riyad Opportunities Fund was recognized as the Top Performing TIER I Fund 2022, with net assets under management (AUM) of more than SAR 100 million (TIER1). The fund achieved an annual return of 27.60%. Alawwal Saudi Equity Fund was selected as the Top Performing TIER II Fund 2022, with net assets under management (AUM) of less than SAR 100 million (TIER1I). The fund achieved an annual return of 21.48%.
SNB Capital Saudi Small and Mid-Cap Equity Fund was recognized as the Top Performing TIER I Fund over 3 Years, with net assets under management (AUM) of more than SAR 100 million. It achieved an annual return of 92.03%. Alawwal Saudi Equity Fund was the Top Performing TIER II Fund over Three Years, with an annual return of 89.94%.
SNB Capital Freestyle Saudi Equity Fund was selected as the Top Performing TIER I Fund over 5 Years, with net assets under management (AUM) of more than SAR 100 million. The fund achieved an annual return of 153.88%. Osool & Bakheet Parallel Market Trading Equity Fund was recognized as the Top Performing TIER II Fund over 5 Years, with net assets under management (AUM) of less than SAR 100 million (TIER II). It achieved an annual return of 296.16%.
Among the top performing Shariah-Compliant funds over three and five years, Alinma IPO Fund was the Top Performing Shariah-Compliant TIER I Fund for 2022, with net assets under management (AUM) of more than SAR 100 million (TIER1). The fund achieved an annual return of 12.44%. Alawwal Saudi Equity Fund was the Top Performing TIER II Shariah-Compliant Fund 2022, with net assets under management (AUM) of less than SAR 100 million (TIER1I). The fund achieved an annual return of 21.48%.
SNB Capital Saudi Small and Mid-Cap Equity Fund was the Top Performing TIER I Fund over 3 Years, with net assets under management (AUM) of more than SAR 100 million. The fund achieved an annual return of 92.03%. Alawwal Saudi Equity Fund was selected as the Top Performing TIER II Fund over 3 Years, with net assets under management (AUM) of less than SAR 100 million (TIERII). The fund achieved an annual return of 89.94%.
SNB Capital Freestyle Saudi Equity Fund was again named the Top Performing TIER I Fund over 5 Years, with net assets under management (AUM) of more than SAR 100 million. The fund achieved an annual return of 129.4%.
Osool & Bakheet Parallel Market Trading Equity Fund was recognized as the Top Performing TIER II Fund over 5 Years, with net assets under management (AUM) of less than SAR 100 million (TIER II). The fund achieved an annual return of 296.16%.
SNB Capital won Argaam Recognition Award as the IPO Manager of the Year 2022 by offering size - Main Market. It accounted for nearly 40.73% of the total offerings on the Saudi Main Market, which were valued at SAR 20.37 billion in 2022. HSBC Saudi Arabia was recognized as the IPO Financial Advisor of the Year 2022 by offering size on the Main Market. The company accounted for nearly 33.66% of the total SAR 18.59 billion offerings on the Main Market in 2022.
On Nomu-Parallel Market, Derayah Financial won Argaam Recognition Award as the IPO Manager of the Year 2022 by offering size. Derayah Financial was the lead manager on four offerings valued at SAR 610.30 million.
Itqan Fund for Murabahat and Sukuk was the Top Performing Murabaha Fund 2022. It achieved an annual return of 2.99%.
Derayah Financial won the Best Platform Award and Best Brokerage Company Award in Customer Service 2022 based on Argaam’s public poll.
Since its launch in 2017, Argaam Recognition Award has received strong interest from the stock market and business community in Saudi Arabia. This year’s edition builds on the success of the Award.
Launching this Award, Argaam aims to support excellence and enhance transparency. It also encourages market funds on the Saudi market to demonstrate the best performance throughout the year.
