Kuwait – Mubasher: National Investments Company (NIC) on Monday reported a 67% year-on-year hike in the volume of its assets under management (AUM) to KWD 2 billion in the first half of 2017.

Hamad Al Ameeri, chairman of National Investments, told Al-Anba newspaper that the firm is adopting a conservative investment policy in the short- and medium- term due to the unstable economic conditions in the investment sector.

The firm is determined to grow its operating profits this year through focusing on the main investment activities and through launching products and financial tools in the domestic market and the region, as a way of diversifying income resources, Al Ameeri added.

He indicated that the company will continue to exit some investments in order to reallocate the money in promising opportunities. These should bolster the objectives of the company, increase its profitability, continue to develop shareholders' equity, and strengthen the company's leadership position according to the volume of the AUM.

National Investments had previously announced a 192.1% surge in profits to hit KWD 5.17 million in H1-17 against KWD 1.77 million in H1-16.

By 9:33 am Kuwait-time on Monday, National Investments’ stock levelled up 4.72% to 111 fils, with a traded volume of 729,000 shares and a turnover of KWD 80,220.