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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.

Investment Features

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

Overview

  • Fund Structure: Open-ended
  • Asset Class: Money Market
  • Liquidity: Weekly
  • Inception Date: 25 June 2014

NAV KD

1.108561

As of 14 Jun 2022

Performance

As of 14 Jun 2022

Performance Fund
First Financial Year 1.16%
Annualized 3 Years (Since Inception) 0.85%
Annualized 6 Years (Since Inception) 1.55%
End of First Quarter 2022 (Since Inception) 10.65%
Cumulative Return Since Inception 10.86%
Annualized Return Since Inception 1.30%

Fund Facts

Fund Structure:

Open-ended fund

Currency:

Kuwaiti Dinar

Inception Date:

25 June 2014

Liquidity:

Weekly

Minimum Investment:

KD 1,000/- and in increments of KD 1/-

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 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’s Net 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 K.S.C.

Auditor:

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

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: NBKC-Fundadministration@nbkcapital.com

Management Team

  • Hazem Rasbeih

    Managing Director – Structured Investments & Advisory

  • Dr. Hervé Ile

    Director – Structured Investments & Advisory

  • Hosam El Hourani, CFA

    Vice President – Structured Investments & Advisory

Contact Fund

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

NBKC-Fundadministration@nbkcapital.com