Fund objective, strategy and features
The Fund, which seeks long-term capital appreciation, invests primarily in Qatari domiciled, listed equities. However, from time to time the investment manager might choose to invest, not ordinarily exceeding 20% of the NAV of the Fund, in non-Qatari stocks that he deems to have significant exposure to the Qatari economy. The performance of the Fund will be measured against recognizable Qatar benchmarks (MCSI Qatar Index).
Features of the Fund include the fact that it seeks long-term capital appreciation by investing primarily in Qatari domiciled, listed equities with strong fundamentals and good prospects for long-term growth. Qatar market currently exhibits one of the most rapid growths among GCC countries.
Fund Facts
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Fund structure: |
Open-ended Fund |
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Currency: |
US Dollar |
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Initial Offering Period: |
16 April, 2006 to 11 May, 2006 |
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Liquidity: |
Weekly |
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Minimum Investment: |
USD 100,000 additional investment in multiples of USD 10,000 |
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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: |
National Bank of Kuwait S.A.K. |
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Initial Offering Price: |
USD1 per unit |
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Administrator: |
Ernst & Young Business Advisory Services W.L.L., Bahrain |
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Auditor: |
PriceWaterhouseCoopers, Bahrain |
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Reporting: |
Quarterly performance reports, semi-annual customer statements and annual audited financial statements and annual financial statements |
