Watani KD Money Market Fund According to Islamic Shariah Principles II

The Fund seeks to achieve competitive returns by investing in short and medium term financial instruments that are compliant with the Islamic Shariah and are available in the financial market, such as the instruments arising from murabaha operations (involvement in this activity does not result in any direct or indirect financing).

The Fund may invest in other investment funds whose investment objectives are similar to those of the Fund and that are compliant with the Islamic Shariah to the extent that they do not conflict with the investment methods and policies specified in the Articles of Association. All the instruments in which the Fund will invest in should comply with the provisions of Islamic Shariah as determined by the Fund’s External Shariah Audit Office. The Fund will seek to maximize its net asset value while maintaining a high level of liquidity by investing in high-quality instruments. The instruments in which the Fund will invest in are denominated in Kuwaiti Dinar. The Fund has the right to invest in instruments denominated in other currencies.


  • Fund Structure: Open-ended

    Asset Class: Money Market

    Liquidity: Weekly

    Inception Date: 25 June 2014

  • NAV KD

    As of 19 March 2019

    1.060903

PERFORMANCE
As of 19 March 2019
FUND
First Financial Year 1.16%
Annualized 3 Years (Since Inception) 0.86%
Annualized 6 Years (Since Inception)
End of Forth Quarter 2018 (Since Inception)5.46%
Cumulative Return Since Inception6.09%
Annualized Return since Inception 1.26%


Fund Structure:Open-ended fund
Currency:Kuwaiti Dinar
Inception Date:25 June 2014
Liquidity:Weekly
Minimum Investment:KD10,000 with additional investments in multiple KD1,000
Subscription/Redemption Deadline:By 12:00 p.m. on Monday
Valuation Day:Tuesday
Payment of Redemption Proceeds:The next business day following the NAV Valuation day; or as otherwise described in the Fund’s Articles of Association
Management Fee:Up to 1.00% per annum
Investment Advisor Fee:0.1% per annum
Investment Controler’s Fees: 0.05% of the Fund’sNet Asset Value until KD 15 million.

0.035% of the Fund’s Net Asset Value for the amount above KD 15 million until KD 25 million.

0.02% of the Fund’s Net Asset Value for any amount above KD 25 million.

Fees of the Custodian: 0.05% of the Fund’sNet Asset Value until KD 15 million.

0.035% of the Fund’s Net Asset Value for the amount above KD 15 million until KD 25 million.

0.02% of the Fund’s Net Asset Value for any amount above KD 25 million.

Fund Manager:Watani Investment Company K.S.C.C. (regulated by Capital Markets Authority)
Selling Agent:National Bank of Kuwait S.A.K.P.
Custodian and Investment Controller:Kuwait Clearing Company S.A.K.
Auditor:KPMG Safi AlMotawa & Partners
Fund Regulator:Capital Markets Authority
Domicile of the Fund:Kuwait
Fund Manager Contact: 35th Floor, Arraya II Building, Al-Shuhada Street, Block 6, Sharq P.O. Box 4950 Safat, 13050 Kuwait
NBKC-Fundadministration@nbkcapital.com

INVESTMENT FEATURES

  • Potential returns higher than Fixed Deposits
  • Easy weekly access to your money
  • High-quality Instruments
  • Low risk investment

MANAGEMENT TEAM

Nabil Maroof
Deputy Chief Executive Officer – NBK Capital

Hazem Rasbeih
Director – Investment Products

Herve Salanga Ile
Vice President – Investment Products

Hosam El Hourani
Assistant Vice President – Investment Products


RELATED NEWS & ARTICLES





DOWNLOADABLES




CONTACT FOR THIS FUND



35th Floor, Arraya II Building,
Al-Shuhada Street, Block 6, Sharq
P.O. Box 4950 Safat,
13050 Kuwait

NBKC-Fundadministration@nbkcapital.com