15 May 2009
CAAM Saudi Fransi has announced the launch of its new Al-Watheq Enhanced Murabaha mutual fund approved by the Capital Market Authority for distribution in Saudi Arabia. This fund has been developed as a direct answer to the worldwide financial crisis and the resulting low interest rate environment, CAAM Saudi Fransi said, adding that it has combined into one fund some secure investments to offer capital protection at maturity and a small exposure to the Saudi equities to act as a return enhancer/booster.
Al-Watheq is an innovative low risk fund designed for conservative investors seeking both safety and a reasonable return above current Murabaha rates over a three-year period. Al-Watheq offers compliance with Shariah rules (approved by BSF Shariah Board), 100 percent protection of the invested capital (Net of front fees) at maturity in 2012, and a performance booster linked to the likely rebound of the Saudi equity market and the strength of the Saudi economy.
Al-Watheq is a closed ended fund maturing in June 2012 with a unit price at inception of SR1,000. The subscription period is from May 9 to June 3.
CAAM Saudi Fransi has announced the launch of its new Al-Watheq Enhanced Murabaha mutual fund approved by the Capital Market Authority for distribution in Saudi Arabia. This fund has been developed as a direct answer to the worldwide financial crisis and the resulting low interest rate environment, CAAM Saudi Fransi said, adding that it has combined into one fund some secure investments to offer capital protection at maturity and a small exposure to the Saudi equities to act as a return enhancer/booster.
Al-Watheq is an innovative low risk fund designed for conservative investors seeking both safety and a reasonable return above current Murabaha rates over a three-year period. Al-Watheq offers compliance with Shariah rules (approved by BSF Shariah Board), 100 percent protection of the invested capital (Net of front fees) at maturity in 2012, and a performance booster linked to the likely rebound of the Saudi equity market and the strength of the Saudi economy.
Al-Watheq is a closed ended fund maturing in June 2012 with a unit price at inception of SR1,000. The subscription period is from May 9 to June 3.
© Arab News 2009
