Fund objective, strategy and features:
The Fund, which seeks long-term capital appreciation, invests primarily in Kuwait domiciled, listed equities. However, from time to time the Fund’s investment manager may chose to invest, not ordinarily exceeding 20% of the NAV of the Fund, in non-Kuwaiti stocks that are deemed to have significant exposure to the Kuwaiti economy. The performance of the fund is measured against the MSCI Kuwait Index.
Salient features of the Fund include easy access to money on a monthly basis and that investments are made in equities with strong fundamentals and good long-term prospectus. Success metrics are charted against the MSCI Kuwait Index.
Fund Facts
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Fund structure: |
Open-ended Fund |
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Currency: |
Kuwaiti Dinar |
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Liquidity: |
Weekly |
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Minimum Investment: |
KD 1,000 additional investments in multiples of KD 1,000. |
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Sale Charge: |
One-time fee of up to 2% on subscription |
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Management Fee: |
Annual fee of up to 1.5% |
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Incentive Fee: |
10% for every 1% excess return over the benchmark (positive performance) in a fiscal year |
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Investment Manager: |
Watani Investment Company K.S.C.(c) (NBK Capital). |
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Initial Offering Price: |
KD 1 per unit |
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Custodian: |
Kuwait Clearing Company S.A.K. |
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Auditor: |
Ernst & Young (Al-Aiban, Al-Osaimi & Partners) |
