Albilad Capital’s listed index funds rise collectively today

Logo of Albilad Capital

Index funds managed by Albilad Capital, listed on the Saudi Exchange (Tadawul), recorded a collective uptick in today’s session, May 31.

These funds are represented in Albilad MSCI US Tech Fund, Albilad MSCI US Equity ETF, Albilad Gold ETF and Albilad Saudi Sovereign Sukuk ETF.

Both Albilad MSCI US Tech Fund and Albilad MSCI US Equity ETF hit all-time high prices.

The two funds have been witnessing a continuous rise during the past sessions, bringing their gains since the beginning of the week to 46% and 33%, respectively.

*The highest price during the session.

**As of this report’s preparation.

Albilad Saudi Sovereign Sukuk ETF listed on Tadawul in 2020, while Albilad Gold ETF listed in June 2020. The latter primarily invests in gold spot contracts approved by the Shariah Board and applicable on the Dubai Gold & Commodities Exchange (DGCX), aiming to simulate gold spot prices.

Listed as of January 2023 as a Shariah-compliant open-ended public ETF, Albilad MSCI US Tech Fund aims to track and simulate the performance of the MSCI USA Information Technology Index that is Shariah-compliant before calculating any distributions, fees or expenses. It also invests in both the US and Saudi capital markets.

Meanwhile, Albilad MSCI US Equity ETF, which listed in March 2022, is a traded fund whose units are traded in the local market and invest in Shariah-compliant stocks that are listed on the US market.