Alkhair Portfoy Turkey, a subsidiary of Bahrain-based Bank Alkhair , an Islamic wholesale bank, has announced that its Istanbul Fund has been ranked first in annualized returns to end of May 2014. The Istanbul fund’s annualized return is 23.22 percent and its year to date return is 12.5 percent. Eurekahedge, the world’s largest alternative investment funds research house specializing in hedge fund databases, ranked the Istanbul Fund’s performance ahead of approximately 600 competing global Islamic mutual funds. Commenting on the announcement, Ali Ilhan, General Manager of Istanbul-based Alkhair Portfoy Turkey, said: Our business in Turkey continues to expand in line with our business plan which provides our clients a full range of offerings to take advantage of the high growth being realized in the Turkish market.” Yousef Al-Shelash, Chairman of Bank Alkhair , who was recognized for his outstanding role in many regional and international institutions and featured as one of the World’s 100 Most Powerful Arabs by Arabian Business this year.
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