Alkhabeer Capital hosts media briefing for fund launch

Alkhabeer Capital, the asset manager specializing in Shariah-compliant investments and financial services, recently hosted a media briefing for the launch of its Alkhabeer Diversified Income Traded Fund. During the meeting, Ahmed Saud Ghouth, CEO of Alkhabeer Capital, discussed the fund’s advantages and characteristics. An introductory presentation on the fund was also delivered by the company’s head of capital markets, Ayman Abdulaziz Bajsair.

Ghouth and deputy CEO Hisham Omar Baroom answered questions from the media and other attendees during a dialogue session moderated by Rashid Mohammed Al-Fowzan. Alkhabeer Capital announced the launch of the subscription for Alkhabeer Diversified Income Traded Fund’s 100 million units at SR10 ($2.67) each. The 15-day subscription period will end on Dec. 24.

“Closed-ended funds have become a preferred option for investors due to their ability to provide more liquidity, which enables them to be traded at any time. At Alkhabeer Capital, we believe these funds will add more diversity to the group of investment options available to investors and contribute to the development of products offered in the Saudi capital markets,” said Ghouth.

“Alkhabeer Diversified Income Traded Fund, which is expected to be worth SR1 billion, aims to provide investors with the opportunity to achieve periodic returns by investing in income-generating assets in a number of categories, including sukuk, trade finance, leasing and income funds.

The fund will operate across multiple sectors in local, regional, global, and emerging markets,” he added.

The fund’s IPO will be open to Saudis, foreign residents in the Kingdom, and GCC nationals, who will have the opportunity to subscribe for units in the fund at SR10 each through four receiving banks. The banks appointed to handle the subscription phase are AlJazira Capital, National Commercial Bank, Riyad Bank and Banque Saudi Fransi. Clients of other banks may also subscribe through the Alkhabeer Capital website. The minimum subscription amount is set at SR1,000 (100 units).