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- العربية
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% |
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
Related Documents
Investment RisksManagement Team
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Shadi Khadder, CFA, FRM
Managing Director - MENA Asset Management
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Ali Sarab
AVP - MENA Asset Management
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Yousef Al-Abdullah
Analyst - MENA Asset Management
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Khalil Salame, CFA
VP - MENA Asset Management
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Adel Naji
Manager- MENA Asset Management
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Amanda Ghannam
Manager - MENA Asset Management
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Rana Atallah, CFA
Director - MENA Asset Management
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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