Jadwa GCC Index Fund
We broaden the scope of this passive investment strategy to include the whole of the GCC in this index fund by tracking the Standard & Poor’s GCC Shariah Composite Index, a widely recognised benchmark of Shariah-compliant equity markets in the Gulf region. This Fund attempts to replicate the benchmark by investing in the stocks that make up the benchmark and by holding each stock in the same proportion as its weighting in the index.
| Fund Manager | Jadwa Investment PO Box 60677, Riyadh 11555 Saudi Arabia |
| Base Currency | Saudi Riyal |
| Currency Exposure | The Fund’s underlying investments may have exposure to different currencies and fluctuations in exchange rates may have an adverse effect on the value and price of its units. |
| Investment Fund Objective | To provide long-term capital growth by investing in GCC equity markets, in proportion to the constituents of the S&P GCC Shariah Composite Index. The underlying investments of the Fund shall be in accordance with Shariah investment guidelines of the Fund Manager’s Shariah Committee. |
| Investment Strategies | The Fund Manager employs a passive investment strategy by investing its assets in Shariahcompliant companies listed on the GCC equity markets in proportion with the weights of each constituent of the Index.. |
| Level of Risk | High Risk |
| Investment Suitability | Due to its risk level, the Fund may not be suitable for investors with a lower risk profile. Investors are recommended to seek advice from their investment advisors. |
| Benchmark | S&P GCC Shariah Composite Index |
| Minimum Initial Subscription | SAR 50,000 |
| Minimum additional Subscription and Redemption | SAR 25,000 |
| Cut-off time | 12 noon each business day in Saudi Arabia. |
| Valuation Day | Each business day in Saudi Arabia. |
| Announcement Day | The day following the Valuation day. |
| Payment Day of the Redeemed Amount | Four business days after the relevant Valuation day. |
| Subscription Fees | Up to 3% deducted from each subscription. |
| Management Fees | 1.5% per annum accrued pro-rata at each valuation. |
| Unit Price and Day of Inception | SAR 100 |