Alkhair Capital Murabaha Fund
The objective of the fund (Open public investment fund) is to provide liquidity at the request of the investor, and maintain Capital by investing in the money market instruments, which are in line with the Shariah standards of Al-Khair Capital Saudi Arabia. The fund seeks to achieve positive returns by investing in money market instruments. The fund will not distribute dividends to unit owners and it will be reinvested in the fund for the benefit of unit owners. The return on deposits in Saudi riyals for three months (SIBOR) is taken as a guide to compare the performance of the fund. The fund manager will make every effort to achieve a performance level that rival the performance of the benchmark.
- Benchmark: SAIBOR 3Months (Return on deposits in Saudi riyals for three months).
- Fund currency : Saudi Riyal
- Level of Risk: Low to Medium. *potential investor should read the terms and conditions of the fund
- Management Fees: 0.25% per annum of net asset value of the fund.
- Custody fees: 15,000 Saudi riyals from the net asset value under custody, and the due from these fees will be calculated on each calendar day on the basis of the net asset value of the fund and deducted on a quarterly basis.
- Auditor’s fees : 32,000 Saudi riyals per annum
- Other Fees : Maximum 0.45% per annum *potential investor should read the terms and conditions of the fund
- Subscription Fees : 0%
- Early redemption fee: 0%
Investment strategy: The fund invests in money market instruments (Murabaha and Ijara contracts), and the fund manager will select the banks received for Murabaha and Ijara contracts, financial institutions and (related) entities classified credit by Standard & Poor’s with a grade not less than (B) or Moody’s (B2) or Fitch’s credit rating Agency (B), and if there is no credit rating, the fund manager will classify it internally based on the financial position and cash flows from operations and management. In addition to the sukuks issued by sovereign and semi-sovereign institutions, as well as Sukuks issued by companies and convertible sukuk classified credit Grade A or better by Standard and Poor’s, Moody’s (A2) or Fitch’s credit rating( A). Other fund units investing in money market instruments by Saudi riyal, licensed by the Capital Market Authority and managed by the fund manager or other fund managers.
- Sharia Advisor : Shari’ah Supervisory Board of Alkhair Capital Saudi Arabia.
- Minimum Subscription : SR 10,000
- Minimum additional subscription: 5,000 SR
- Minimum investor balance: 5,000 SAR
- Minimum Redemption : SR 5,000
- Subscription / redemption requests accepting days: Every working days
- The last date for receiving Subscription & Redemption : Every Working day before 12.00 P.M
- Payment Day of the Redeemed Amount : Four working days after the day of valuation
- Dealing Days : Every Working days
The asset value in the mutual fund is variable and may be subject to increase or decrease.
To view the fund’s documents, click here
Alkhair Capital Sukuk Plus Fund
The investment objective of the fund (Open public investment fund) is to provides investors medium to long term capital appreciation and income distribution returns by investing in a portfolio of global sukuk and others Shari’ah compliant income producing investments and securities.
- Benchmark : 3 Months LAIBOR
- Fund Currency : USD
- Level of Risk: Medium to High * potential investor should read the terms and conditions of the fund
- Management Fees : 0.75% per annum of net asset value of the fund
- Custody fees: 15,000 SAR annually from the net asset value under custody ($ 4,000). The amount due from these fees will be calculated on each calendar day based on the net value of the fund’s assets and deducted on a quarterly basis.
- Auditor’s fee: 8,533.33 $ per year.
- Other Fees: 0.5% per annum * potential investor should read the terms and conditions of the fund
- Subscription Fees : 0%
- Redemption Fees : 1% first year, 0.75% second year, 0.5% third year, and no fees after the third year
Investment strategy: The fund invests first in sukuks issued by sovereign and semi-sovereign institutions and in sukuks issued by companies and convertible sukuk. Sukuk are created globally in accordance with the rules and controls mentioned by the Shariah advisor of the fund. The fund also invests in other credit instruments such as murabaha, syndicated murabaha, deposits, that Comply with Sharia authority and quasi-cash investments which are also in line with the Shariah standards. The fund invests in instruments and securities that are compliant with Islamic law, whether classified and not
- Sharia Advisor : Shari’ah Supervisory Board of Alkhair Capital Saudi Arabia.
- Minimum Subscription : USD 10,000
- Minimum additional subscription : USD 5,000
- Minimum investor balance : USD 5,000
- Minimum Redemption : USD 5,000
- Valuation Day : Tuesday , if it is a working day in the Kingdom of Saudi Arabia
- The last date for receiving Subscription : valuation day , 2.00 P.M (Riyadh time)
- The last date for Redemption : 2.00 P.M Before 5 working days from the valuation day
- Payment Day of the Redeemed Amount : Within a maximum period of Four working days after the day of valuation
The asset value in the mutual fund is variable and may be subject to increase or decrease.
To view the fund’s documents, click here
Alkhair Capital Saudi Equity Fund
The investment objective of the fund (which is an open public investment fund) to offer a medium to long term capital appreciation through investment principally in Shariah compliant securities already listed on the Saudi Stock Exchange and to be offered in the course of an initial public offering in the Kingdom of Saudi Arabia and in addition the Fund may also invest in Shariah compliant cash equivalents in accordance with the Funds Term and Conditions
- Benchmark: S&P Saudi Arabia Shari’ah Index
- Fund Currency: Saudi Riyal
- Risk level: High * potential investor should read the terms and conditions of the fund
- Sharia advisor: Shari’ah Supervisory Board of Alkhair Capital Saudi Arabia.
- Subscription Fees: 1%
- Management Fees: 1.25% per annum of the net asset value of the fund.
- Early Redemption Fees: 0.25% of the value of the recovered units that were requested to be redeemed within 30 days from the date of subscription, where it is paid to the fund.
- Custody fees: 15,000 Saudi Riyal Annually from the net asset value under custody, and the due from these fees will be calculated on each calendar day on the basis of the net asset value of the fund and deducted quarterly.
- Auditor fee: 32,000 Saudi Riyals annually.
- Other fees: 0.75% per annually. * Potential investor should read the terms and conditions of the fund.
- Minimum Subscription: 10,000 Saudi Riyal.
- Minimum additional subscription: 5,000 Saudi Riyal.
- Minimum investor balance: 5,000 Saudi Riyal.
- Minimum Redemption: 5,000 Saudi Riyal.
- Subscription and redemption requests accepting days: Subscription / Redemption requests are accepted on all trading days when the Saudi stock market is open.
- The last date for receiving subscription / redemption requests: 2:00 p.m. Riyadh time, on the day before the dealing day, provided that the subscriber / redemption request is enforceable.
- Dealing Days: Monday and Wednesday.
The value of the investment in the mutual fund is variable and may be subject to increase or decrease.
To view the fund’s documents, click here
Alkhair Capital IPOs Fund
- The fund aims to invest its assets in shares of joint stock companies during the period of initial public offerings in the primary market or in new shares of listed companies, that haven’t completed Five years since their listing in the secondary markets in Saudi Arabia, GCC, Middle East region and North Africa. For the purposes of the Fund’s investments, all the companies that will be invested in by the Fund have to be compliant to Alkahircapitals’ Sharia standards.
- Benchmark: Alkhair Capital MENA IPO Shariah Index
- Fund Currency: Saudi Riyal
- Risk level: high risk * potential investor should read the terms and conditions of the fund.
- Subscription fee: 0.75% of the maximum subscription amount.
- Early redemption fee: 0.25% of the net redemption value within 30 days from the start of the subscription to the fund.
- Fund management fees: 1.25% annually of net asset value of the fund.
- Custody fees: 15,000 Saudi Riyals annually from the net asset value under custody, and the due fees will be calculated on each calendar day on the basis of the net asset value of the fund and deducted on a quarterly basis.
- Auditor fee: 32,000 Saudi Riyals annually
- Other fees: 0.50% annually of net asset value of the fund * potential investor should read the terms and conditions of the fund.
- Minimum subscription: 10,000 Saudi Riyals.
- Minimum additional subscription: 5,000 Saudi Riyals.
- Minimum investor balance: 5,000 Saudi Riyals.
- Minimum redemption: 5,000 Saudi Riyals.
- Subscription and redemption requests accepting days: every working day except for official holidays.
- The last date for receiving subscription and redemption requests: before 2:00 p.m. Riyadh time on the day before the dealing days (Sunday and Tuesday).
- Dealing / Calendar Days: On Monday and Wednesday of each week, and in the event that the dealing / Calendar Day is an official holiday, the dealing / Calendar Day will be on the next business day.
- Payment Day of the Redeemed Amount : Four working days after the day of valuation .
The value of the investment in the mutual fund is variable and may be subject to increase or decrease.
To view the fund’s documents, click here