Sharia-compliant Fund aims to achieve mid- and long-term capital growth
AlKhair Capital Saudi Arabia, the leading Saudi-based investments institution, has launched the AlKhair Capital Plus Sukuk Fund on June 1st 2014; its open-ended, Sharia-compliant investment fund for investment in fixed income markets.
The fund is aimed at generating regular income as well as achieving capital appreciation by investing in globally-diversified fixed income securities. The initial launch was on June 1st 2014.
Investors will be able to invest with a minimum subscription of US $ 10,000 at an initial NAV of US $, 100 per unit.
“The fund aims at achieving mid- and long-term capital growth, as well as yielding revenues from investment income in a portfolio that encompasses income-generating investments and Sharia-compliant securities,” said Mr. Khalid Al-Mulhim, CEO of AlKhair Capital.
He added: “The outlook for Sukuk market is extremely positive amidst the current global macroeconomic uncertainty. The recently launched Sukuk issues have been heavily oversubscribed by regional and global investors reaffirming the appetite for good quality credit.”
“The fund prospectus and terms and conditions can be viewed and accessed through Tadawul website or on AlKhair Capital Saudi Arabia’s website,” added Mr. Al-Mulhim, explaining that the company is working towards granting access to its channels and products to all investors.
AlKhair Capital Saudi Arabia was established in 2009 as a closed shareholding company, with a paid up capital of SR 300 million. It is licensed by the Capital Market Authority to execute transactions and offer investment fund management, client portfolios, arrangement and advisory services, with its headquarters located in Riyadh.
The company seeks to provide the market with an integrated and comprehensive range of Sharia-compliant investment products and services, with an emphasis on delivering exceptional value and tailored solutions to clients and shareholders.
About AlKhair Capital:
AlKhair Capital (Dubai) Limited is an investment company licensed by the Dubai Financial Services Authority owned by AlKhair Capital Saudi Arabia. The major shareholder in AlKhair Capital Saudi Arabia is Bank AlKhair. Founded in 2004 and headquartered in Bahrain, Bank AlKhair is an Islamic wholesale bank with subsidiaries in Malaysia and Turkey. The Bank is also a major shareholder in Burj Bank, Pakistan. Bank AlKhair has completed several landmark transactions since its inception, including the establishment of t’azur, a regional Takaful company and the acquisition of Bahrain Financing Company, the oldest and one of the leading foreign exchange and remittance houses in the GCC. Bank AlKhair has received widespread industry recognition for excellence and vision.