Watani USD Money Market Fund
Fund Structure: Open-ended
Asset Class: Money Market
Liquidity: Weekly
Inception Date: 24 November 2014
NAV USD
As of 12 Jan 2021
10.768260
| PERFORMANCE As of 12 Jan 2021 | FUND | |
| First Financial Year | 0.95% | |
| Annualized 3 Years (Since Inception) | 0.86% | |
| Annualized 6 Years (Since Inception) | – | |
| End of First Quarter 2020 (Since Inception) | 7.67% | |
| Cumulative Return Since Inception | 7.68% | |
| Annualized Return since Inception | 1.20% |
| Fund Structure: | Open-ended fund |
| Currency: | U.S. Dollar |
| Inception Date: | 24 November 2014 |
| Liquidity: | Weekly |
| Minimum Investment: | USD 3,500/- and in increments of USD 10/- |
| 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: | Floor 35, NBK Tower, Sharq Area, Jaber Al-Mubarak & AlShuhada street, Block 7, Plot 6, Sharq, Kuwait, 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
Executive Director – Structured Investments & Advisory
Herve Salanga Ile
Director – Structured Investments & Advisory
Hosam El Hourani
Vice President – Structured Investments & Advisory
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CONTACT FOR THIS FUND
NBK Tower, Sharq Area,
Jaber Al-Mubarak & AlShuhada street
Floor 35, block 7, Plot 6
Sharq, Kuwait
P.O. Box 4950 Safat
13050 Kuwait