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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
- 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 investments are in fixed deposits with local banks
Overview
- Fund Structure: Open-ended
- Asset Class: Money Market
- Liquidity: Weekly
- Inception Date: 24 November 2014
NAV USD
10.882470
As of 27 SEP 2022
Performance
As of 27 SEP 2022
| Performance | Fund |
|---|---|
| First Financial Year | 0.95% |
| One Week Annualized Return | 2.68% |
| Annualized 3 Years (Since Inception) | 0.86% |
| Annualized 6 Years (Since Inception) | 1.26% |
| End of Third Quarter 2022 (Since Inception) | 8.82% |
| Cumulative Return Since Inception | 8.82% |
| Annualized Return since Inception | 1.07% |
Fund Facts
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’s Net 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 USD 15 million
Fees of the Custodian:
0.05% of the Fund’s Net 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 USD 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:
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
Executive Director MENA Asset Management
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Khalil Salame, CFA
AVP - Fixed Income MENA Asset Management
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Rajat Bagchi
VP - MENA Asset Management
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Rana Atallah, CFA
Director - MENA Asset Management
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Mohammed Al Duaij
Manager - MENA Asset Management
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Vikram Viswanathan
Director - 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