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Al-Basha’er Fund

An open-ended investment fund which seeks medium to long-term capital appreciation through investing primarily in the shares of GCC-listed Shari'ah compliant companies. The Fund may also invest in shares of non-listed Shari'ah compliant companies up to 10% of its Net Asset Value.

Name
Al Basha’r Equity Fund

Structure
Open Ended fund domiciled in the Kingdom of Bahrain.

Currency
The objective of the fund is to achieve medium to long-term capital appreciation through investing primarily in issued securities of companies listed on stock exchanges in GCC countries which satisfy the Shari’ah Investment Guidelines. The fund may also invest in Arab equities to a maximum of 10% of its net asset value and in shares of non-listed Shari’ah compliant companies up to 10% of it’s Net Asset Value.

Fund Sponsors, Investment managers & placement Agents

Kuwait Finance & Investment Company (KFIC)(GFH)

Gulf Finance House (GFH)

Fund Sponsor & Placement Agent
Qatar Islamic Bank (QIB)

Placement Agent

Gulf Bank (GB)

Abu Dhabi Commercial Bank (ADCB)

Gulf Finance House Commercial Bank ( GFHCB)

Shari’ah Supervisory Board

Shaikh Nizam Moh’d Saleh Yaquby

Dr. Abdul Sattar Abdul Kareem Abu Ghaddah(ADCB)

Custodian, Administrator & Registrar
Gulf Clearing Company, Bahrain

Legal Advisors
Haya Rashed Al-Khalifa Law Firm, Bahrain.

Auditors
Ernst & Young, Bahrain

Subscription and Redemptions
Monthly, commencing on March 1st 2006, at asset value (NAV).

Target Size
US$400,000,000 representing 40,000,000 units valued at US$10.00 per unit.

Minimum Amount

Initial US$10,000

Subsequent US$1,000

Minimum Holding
US$ 3,000

Management Fee
2.25% per annum

Performance Fee
10% of the profits above 10% Hurdle Rate per annum

Subscription Fee
Up to 3% of the Subscription Amount

Investment Features
Investors in the fund benefit from:

  • Compliance with Shari’ah Investment Guidelines
  • Monthly Liquidity at NAV
  • Favorable investing environment characterized by strong economic performance and corporate profits
  • Investor preference for GCC investment opportunities
  • Access to experienced GCC investors / managers with superior track record
  • Stock picking and opportunistic style of management and not indexing

 

 
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