The Kuwait and Middle East Financial Investment Company has always strived to be an innovator in the financial landscape of Kuwait. KMEFIC aims to be a leader in breaking down barriers to investments in Kuwait's equity markets. We hope that this product will be the first of many that will allow foreign investors to participate in Kuwait's vibrant emerging economy.

- Adel Fahad Al Humaidhi, CEO, Kuwait and Middle East Financial Investment Company (KMEFIC)

KMEFIC

KMEFIC (Kuwait & Middle East Financial Investment Company) is a Middle East headquartered provider of asset management, brokerage and wealth management services. KMEFIC had no experience in managing UCITS funds and no knowledge of the ETF market, but saw an opportunity to fill a gap by providing investors with a gateway to the rapidly expanding Kuwaiti economy through a dedicated Kuwait Equity ETF.   

KMEFIC had great depth of knowledge in the Kuwaiti securities market, but little capability to translate their idea into ETF format and so turned to HANetf for help. HANetf initiated two workstreams to coordinate the product launch. HANetf product management worked with benchmark provider FTSE Russell on the index design and coordinated with HANetf’s ecosystem of service providers and liquidity specialists to address the trading complexities of the Kuwaiti stock market (closed on Fridays and open Sundays).

In parallel, a distribution and marketing workstream created detailed, multi-jurisdiction, multi-lingual PR, communications, content, launch events and digital marketing strategies. Both workstreams were successfully executed in a largely virtual and digital environment with only one face-to-face meeting between HANetf and KMEFIC prior to launch.

On 15th April, 2019 KUW8, KMEFIC FTSE KuwaitEquity UCITS ETF was launched on London Stock Exchange. This important milestone was the first time a middle eastern asset manager had sponsored a UCITS ETF and KUW8 became the only focused Kuwaiti ETF in the world.

Listings on Borsa Italiana, CBOE and XETRA followed shortly after and, on 10th May HANetf and KMEFIC were joined by the Prime Ministers’ Trade Envoy to Kuwait, Baroness Morris of Bolton, to open the market at London Stock Exchange.

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