Al Safwa Saudi Index Fund
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| Objective |
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- An Open-Ended investment fund mimicking the performance of the S&P Saudi Arabia Shariah Index.
- The aim of the fund is to reproduce the performance of the S&P Shariah index. Its portfolio comprises the top 30 companies of the S&P Saudi Arabia Shariah Index.
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| Investment Process |
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- Replicating the S&P Saudi Arabia Shariah Index, while maintaining:
-A low tracking error capped at 5% yearly
-A low standard deviation capped at 1% monthly
-Controlled transaction costs
- Investment in the top 30 stocks (c. 80% of the S&P Saudi Arabia Shariah Index). The stocks’ weights will be accordingly adjusted to reflect 95% investment of total assets.
- Regularly rebalanced to re-invest dividends and account for changes in the composition of the selected companies in the index.
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| Terms of the Fund |
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| Listing |
Kingdom of Saudi Arabia |
| Structure |
An Open-End Investment Fund |
| Objective |
To provide price-correspondent investment results which yield the performance of the S&P Saudi Arabia Shariah Index |
| Investment Manager |
Audi Capital |
| Base Currency |
Saudi Riyal |
| Benchmark |
S&P Saudi Arabia Shariah Index |
| Minimum Subscription |
SR 10,000 |
| Management Fees |
1.25% per annum |
| Net Asset Value |
Daily |
| Subscription |
Daily |
| Redemption |
Daily |
| Subscription Fees |
Up to 2% |
| Custodian/Administrator |
SABB Securities Limited |
| Auditor |
Ernst & Young |
| Inception Date |
June 22nd, 2009 |
| Fiscal Year End |
December 31st |
| Liquidity/Valuation |
Daily |
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| Fund Performance |
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| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
YTD* |
| 2010 |
1.77% |
2.59% |
7.23% |
1.18% |
-10.56% |
-0.95% |
4.03% |
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4.40% |
| 2009 |
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-2.99% |
3.73% |
-0.68% |
8.69% |
-0.57% |
1.08% |
-2.81% |
9.39% |
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| * Year to Date as of July 31. | |
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