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.

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

Overview

  • Fund Structure: Open-ended
  • Asset Class: Money Market
  • Liquidity: Weekly
  • Inception Date: 13 July 2015

NAV USD

10.902925

As of 23 May 2023

Performance

As of 23 May 2023

Performance Fund
Annualized 1 Week Return 4.53%
Annualized 1 Month Return 4.50%
Annualized 3 Months Return 4.52%
Annualized 6 Months Return 4.43%
Annualized YTD Return 4.59%
Annualized Return Since Inception 1.09%
Annualized 1 Year Return 3.20%
Annualized 3 Years Return 1.17%
Annualized 5 Years Return 1.38%
Cumulative Return Since Inception 9.03%
Performance

Fund Facts

Fund Structure:

Open-ended fund

Currency:

U.S. Dollar

Inception Date:

13 July 2015

Liquidity:

Weekly

Minimum Investment:

USD 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’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:

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

  • Shadi Khadder, CFA, FRM

    Managing Director - MENA Asset Management

  • Ali Sarab

    AVP - MENA Asset Management

  • Yousef Al-Abdullah

    Analyst - MENA Asset Management

  • Khalil Salame, CFA

    VP - MENA Asset Management

  • Adel Naji

    Manager- MENA Asset Management

  • Amanda Ghannam

    Manager - MENA Asset Management

  • Rana Atallah, CFA

    Director - MENA Asset Management

  • Mohammad Al Duaij

    AVP - MENA Asset Management

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