Watani USD Money Market Fund
Fund Structure: Open-ended
Asset Class: Money Market
Liquidity: Weekly
Inception Date: 24 November 2014
NAV USD
As of 14 January 2020
10.704328
| PERFORMANCE As of 14 January 2020 | FUND | |
| First Financial Year | 0.95% | |
| Annualized 3 Years (Since Inception) | 0.86% | |
| Annualized 6 Years (Since Inception) | – | |
| End of Third Quarter 2019 (Since Inception) | 6.97% | |
| Cumulative Return Since Inception | 7.04% | |
| Annualized Return since Inception | 1.32% |
| Fund Structure: | Open-ended fund |
| Currency: | U.S. Dollar |
| Inception Date: | 24 November 2014 |
| 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’sNet Asset Value until USD 9 million. 0.035% of the Fund’s Net Asset Value for the amount above USD 9 million until USD 15 million. 0.02% of the Fund’s Net Asset Value for any amount above KD 15 million. |
| Fees of the Custodian: | 0.05% of the Fund’sNet Asset Value until USD 9 million. 0.035% of the Fund’s Net Asset Value for the amount above USD 9 million until USD 15 million. 0.02% of the Fund’s Net Asset Value for any amount above KD 15 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 |
The Fund seeks to achieve returns higher than the rate of return on fixed deposits in US Dollars. The Fund will seek to increase its net asset value while maintaining a high level of liquidity by investing in diversified and high-quality money market instruments.
Investment Features
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