Asset Management

Audi Income Fund

 

Objective

Shariah compliant fund that aims to distribute income to its unit holders through investing in local, regional and international sukuk.
 

Investment Policy

The portfolio management team’s aim is to generate relative and absolute performance based on sukuk picks generated by Audi Capital’s research team. The allocation in the fund is based on top down rates analysis, as well as bottom up cash flow and credit analysis.

Fund Board members:

  • Mr. Daniel R. Asmar- Chairman
  • Mr. Saad A. Al Qahtani - Independent Member
  • Mr. Saud M. Al Sabhan – Independent Member
 

Terms of the Fund

 
Base Currency USD
Fund Manager Audi Capital
Category Bond/ Debt Funds - International
Classification Income
Minimum Subscription 10,000
Subscription Currency US Dollars
Objective Shariah compliant fund that aims to distribute income to its unit holders through investing in local, regional and international sukuk.
Policy Fund strategy is based on Identifying the best investment themes and credit worthy issuances. The investment strategy is a dynamic process that involves a periodical reassessment of securities, where management team regularly review the valuation measures and results of the allocation model, Investment themes, macroeconomic development and credit analysis. The manager can take concentrated positions, where sizeable excess returns can be achieved.
Benchmark 70% S&PMENA Sukuk Index and 30% 1 Month SIBOR.
Management Fee 0.75% p.a.
Management Fee Type Monthly
Management Fee Description The Fund will pay the Fund Manager a management fee (“Management Fee”) calculated daily at an annual rate of two percent (0.75%) of the Net Asset Value of the Fund and paid at the end of each month.
Additional Subscription Minimum Additional Subscription USD 5,000
Valuation Basis Daily
Valuation Day Each Business Day in the KSA
Valuation On Daily
Inception Price USD 10
Inception Date 14/04/2019
Business Day Definition Any day, excluding Fridays and Saturdays, on which banks are generally open for business in Saudi Arabia.
Valuation Type The Net Asset Value at the time of calculation divided by the actual number of Units outstanding at that same time.
Amount Invested in The Fund by The Fund Manager 1,332,586.63 USD
Fund Manager Investment % 14%


Fund Performance

Year YTD
2019 N/A

Download

Monthly Fact Sheet
Memorandum (Arabic)
Quarterly Reports to Unit Holders: Q2-2019 | Q3-2019
Financial Statements:
 
2019
Annual -
Semi Annual -
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