Watani USD 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 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 US Dollars. 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: 13 July 2015

  • NAV USD

    as of 19 March 2019

    10.339937

PERFORMANCE
As of 19 March 2019
FUND
First Financial Year 0.60%
Annualized 3 Years (Since Inception) 0.67%
Annualized 6 Years (Since Inception)
End of Forth Quarter 2018 (Since Inception) 2.89%
Cumulative Return Since Inception 3.40%
Annualized Return since Inception 0.90%


Fund Structure:Open-ended fund
Currency:U.S. Dollar
Inception Date:13 July 2015
Liquidity:Weekly
Minimum Investment:USD 10,000 with additional investments in multiple USD 1,000
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’s Net Asset Value until USD 1.5 million.

0.035% of the Fund’s Net Asset Value for the amount above USD 1.5 million until USD 2.5 million.

0.02% of the Fund’s Net Asset Value for any amount above KD 2.5 million.

Fees of the Custodian: 0.05% of the Fund’s Net Asset Value until USD 1.5 million.

0.035% of the Fund’s Net Asset Value for the amount above USD 1.5 million until USD 2.5 million.

0.02% of the Fund’s Net Asset Value for any amount above KD 2.5 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 K.S.C.
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 money market instruments
  • Low risk investment
  • Majority of the fund’s investment are in fixed deposits with local banks

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


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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