Our table provides a detailed overview of the price movement of all the mutual funds we offer in relation to their current price, so that our clients can track the funds' performance.
Investment in companies’ equities listed in the Saudi Stock Market, in addition to investing in the Initial Public Offering in Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain, Jordan, Egypt, Tunisia and Morocco ("Middle East and North Africa Countries"), consistent with the Shariah Investment Guidelines.
Benchmark
S &P Saudi Arabia Domestic Shariah Index (its code is SPSHDSAD)
Minimum Subscription
SR 50,000
Minimum Additional Subscription
SR 10,000
Minimum Redemption
SR 10,000
Minimum Retained Investment Balance
SR 50,000
Days for Accepting Subscription and Redemption Requests
Every business day
Deadline for receiving the Subscription and Redemption Requests
At 4:00 pm KSA on the dealing day
Dealing / Evaluation Day
The day on which the net asset value per unit is determined. It occurs every Monday and Wednesday, provided that they are business days
Payment Date of the Redeemed Units Value for Subscribers
Before the close of business on the third day following the evaluation point on which the redemption price was identified.
Subscription Fees
Up tp 2% of the initial and additional subscription values and are to be paid in advance
Management Fees
At a rate of 0.75% is calculated per annum on the Fund’s net asset value and is paid on a monthly basis.
Performance Fees
The Fund pays performance fees at a rate of 20%, if the Fund Manager achieves a better performance than the (SPSHDSAD) benchmark performance, and it is calculated as follows: 20% multiplied by the difference between the Fund’s performance and the (SPSHDSAD) benchmark performance. So that:
It consists of the basic fees and the adjusted difference in the performance level.
The adjusted difference in the performance level is added to the Management fees or subtracted in proportion, based on the comparison between the Fund’s performance and the (SPSHDSAD) benchmark performance.
The performance fees are calculated on a quarterly basis and paid at the end of the fiscal year. The performance fees are payable to the Fund Manager in the following fiscal year or when redeeming units.
Performance fees for the first fiscal year are calculated on a quarterly basis starting from the Fund’s inception date until the end of the fiscal year ended on the 31st of December 2016; however, they are paid after 12 months from the inception date, and then the fees are paid after the end of each fiscal year for the Fund.
According to the text of Article (34) of clause (L) of the Investment Funds Regulations
Custody and Administrative Services fees
At a rate of 0.10% per year calculated from the Fund’s net asset value and paid on a monthly basis.
Early Redemption Fees
At a rate of 1.00% of the net value of the redeemed units within 30 business days of the subscription.
