The Financial Institutions Fund is designed to provide investors with solid and reliable investment platform through investing in the top financial institutions in the SaudiArabia. In the early years, it is anticipated that the fund will only invest in the sharesof Saudi publicly quoted Financial Institutions but will later expand to cover FinancialInstitutions such as Banks, Non Banking Financial Institutions, Insurance Companiesthat are quoted in Saudi and GCC. The fund will also have the ability to manage itsliquidity through investing in Money Market Instruments. The fund started investingin the Saudi banks on 01 August 2004 with an inception price of SAR 10. The fund
is well diversified as it invests in the various Saudi banks.
To provide medium to long-term equity linked growth by investing in the shares ofSaudi Arabian Banking Sector.
|
Fund type |
Open ended |
|
Base currency of the fund |
Saudi Riyal |
|
Minimum initial subscription |
SAR 7,500 |
|
Minimum additional subscription |
SAR 3,750 |
|
Regular monthly subscription |
SAR 1,000 |
|
Valuation |
Saturday & Tuesday |
|
Cut off time |
12 noon Sunday & Wednesday |
|
Redemption payout |
2 days after valuation day |
|
Unit price at inception |
SAR 10 |
|
Launch date |
01 August 2004 |
