Saudi-based BLOMINVEST, which started its operations in 2009, is known for offering a wide range of investment services in areas such as asset management, wealth management, corporate finance and advisory.
Blominvest, which built its strong track record by utilising its deeply rooted expertise in managing investments in the Kingdom, envisions itself to be a leading provider of added value financial and investment products, which are tailor-made to meet client needs, apart from providing qualitative advisory services by using the company’s intellectual capital and innovative approach, when it comes to creating value and preserve wealth.
Blominvest, which is all set to play a crucial role in realising Saudi’s ‘Vision 2030’ goals for the Kingdom’s financial and real estate sectors, was recognised by International Finance as the ‘Most Innovative Asset Management Product – Saudi Arabia 2022′. Blominvest CEO Abdullah Al-Rashoud was also awarded as the ‘Best CEO – Fund Management – Saudi Arabia 2022’.
Recently, International Finance caught up with Mr Abdullah Al-Rashoud, who shared his insights about his company’s business philosophy, corporate finance products, roadmap to implement ‘Vision 2030’ in the Kingdom’s financial and property sectors and the future plan of action.
Q) Blominvest has been recognised as the ‘Most Innovative Asset Management Product – Saudi Arabia 2022′ and you have been awarded the ‘Best CEO – Fund Management – Saudi Arabia 2022’. Tell us about these honours.
A) We are delighted and honoured to have been awarded in both categories. This recognition will push us to work harder towards achieving our objectives and executing Blominvest’s strategy.
Q) What is Blominvest’s business philosophy, when it comes to its asset management division?
A) Blominvest built a strong track record by utilising its deeply rooted expertise in managing investments in Saudi Arabia by using a differentiated approach that offers superior risk-adjusted returns. We provide our investors with holistic solutions which, on the equities front, consisting of a quantitative core and fundamentally driven satellite which offers consistent superior risk-adjusted returns. The quantitative component follows a rigorously researched quantitative factor model. Those factors are the building blocks and drivers of returns and they have been (and continue to be) extensively researched in academia and observed empirically as they have been applied in global markets. The fundamental component takes advantage of emerging high-conviction opportunities by utilising a team of highly qualified research analysts and portfolio managers. We also offer smart beta strategies, as well as pure freestyle, fundamentally driven strategies independently.
Q) Tell our readers about Blominvest’s corporate finance products.
A) On the corporate finance front, Blominvest is very active in debt arranging services and private equity transactions. Our corporate finance team has developed strong relationships with various lenders in the local market which enabled us to significantly grow the size and the number of projects that we manage. The team has also been active in structuring and managing private equity transactions with the aim of further diversifying our clients’ access to alternative asset classes.
Q) Considering wealth management, why businesses should choose Blominvest?
A) Since its inception, Blominvest has been focused on covering the local Saudi Market. Our wealth management team has acquired throughout the years a holistic understanding of the Saudi market and its asset classes. The team stands ready to advise individuals and businesses on deployment strategies that are based on the investor’s risk/return profile.
Q) Having been in this industry for over a decade, what are your achievements over the years?
A) Under the leadership of its board and executive management, Blominvest was able to achieve sustainable growth over a decade. Today, Blominvest is among the largest local asset managers in terms of assets under management and number of funds. Blominvest has also been able to maintain a very good reputation with various stakeholders.
Q) Since the real estate sector has been one of the flag bearers of Saudi’s economic diversification push, what role your company is playing to realise the ‘Vision 2030’ objectives?
A) Blominvest has been at the forefront of ‘Vision 2030’ when it comes to the financial sector in general and the real estate sector in particular. On one hand we have launched a digital platform named Wafer that facilitates retail access to our real estate funds. And on the other hand, we have launched many funds that aim to develop more than 1,800 residential units in line with the Housing Program of the vision that aims to achieve 70% housing ownership by 2030. Also, our infrastructure, hospitality and tourism funds contribute directly to the vision’s Quality of Life Program. Last but not least we have launched several funds that aim to develop ‘Grade A’ office space that cater to international companies that are moving to Saudi Arabia.
Q) What is Blominvest’s roadmap for the coming years?
A) Blominvest’s roadmap for the coming years is to maintain growth and further develop the business in line with ‘Vision 2030’.