The fund seeks long-term capital appreciation by investing in the stock of companies in the Gulf Cooperation Council. The Fund will follow an active management strategy of allocating its investments between the various markets in the GCC. The Fund’s objective is to achieve optimal returns over the long term by reducing the risk that comes from investing in equity markets of the GCC. Allocation among the various markets in the GCC will contribute towards achieving this objective, along with investing in money market instruments such as deposits or equivalent in Islamic banks, sukuk or bonds issued or guaranteed by the governments of the GCC, either in Kuwaiti Dinars or any other foreign currency, and also with investing in other investment funds, based on the investment expectations and strategy of the Fund Manager, and by following the investment restrictions without these investments conflicting with the rules of law (7) of 2010 Executive By-law thereof and its amendments and the resolutions, and instructions.

Investment Features

  • Easy access to your money on a weekly basis
  • Investing in equities with strong fundamentals and good long-term prospects
  • Measure fund performance against S&P Adjusted GCC Index
  • Volatility risk of the fund is high

Overview

  • Fund Structure: Open-ended
  • Asset Class: Equity
  • Liquidity: Weekly
  • Inception Date: 3 March 2016

NAV USD

16.4968

As of 16 Sep 2021

Performance

As of 16 Sep 2021

Performance Fund Benchmark
First Financial Year 10.56% 20.54%
Annualized 3 Years (Since Inception) 10.54% 14.82%
Annualized 6 Years (Since Inception) - -
End of Second Quarter 2021 (Since Inception) 68.21% 97.04%
Cumulative Return Since Inception 79.84% 111.43%
Annualized Return Since Inception 11.17% 14.46%
Annualized Standard Deviation 13.27% 13.48%
Performance

Fund Facts

Fund Structure:

Open-ended fund

Currency:

US Dollar

Inception Date:

3 March 2016

Liquidity:

Weekly

Minimum Investment:

USD 10,000/- and in increments of USD 1,000/-

Subscription/Redemption Dealing Day:

Wednesday of every week until 12:00 pm

Valuation Day:

Thursday

Subscription/Participation Fee:

2% on the Subscription Amount on each unit subscribed

Management Fee:

1.50% per annum

Performance Fee:

10% of any positive variance between the return of the Fund and the index during the financial year

Investment Controller Fee:

0.0625% of the Fund’s Asset Value until USD 60 million

0.05% of the Fund’s Asset Value for any amount above USD 60 million

Custodian Fee:

0.0625% of the Fund’s Asset Value until USD 60 million

0.05% of the Fund’s Asset Value for any amount above USD 60 million

Fund Manager:

Watani Investment Company K.S.C.C. (regulated by Capital Markets Authority)

Auditor:

Rasheed Al-Qenae | KPMG Safi Al-Mutawa & Partners

Investment Controller &Custodian:

Gulf Custody Company

Distributor:

National Bank of Kuwait S.A.K.P.

Fund Regulator:

Capital Markets Authority

Domicile of the Fund:

Kuwait

Fund Manager Contact:

Floor 35, NBK Tower, Jaber Al-Mubarak & AlShuhada Street, Block 7, Plot 6, Sharq, Kuwait, P.O. Box 4950 Safat, 13050 Kuwait

Email: MenaAssetManagement@nbkcapital.com

Management Team

  • Husayn Shahrur, Ph.D.

    Managing Director – MENA Asset Management

  • Shadi Khadder, CFA, FRM

    Executive Director, Portfolio Management – MENA Asset Management

  • Wajih Al Boustany, CFA

    VP, Portfolio Management – MENA Asset Management

  • Rajat Bagchi

    AVP, Portfolio Management – MENA Asset Management

Contact Fund

Floor 35, NBK Tower, Jaber Al-Mubarak & AlShuhada Street, Block 7, Plot 6, Sharq, Kuwait, P.O. Box 4950 Safat, 13050 Kuwait

MenaAssetManagement@nbkcapital.com