The Capital Market Authority (CMA) on Nov. 1 approved amending Bonyan REIT Fund’s prospectus, which include appointing APEX Fund services as a secondary fund administrator, Saudi Fransi Capital Co. said in a statement to Tadawul today.

 

Changes to the fund’s terms and conditions also include appointing Ernst & Young as a legal accountant, replacing KPMG. Legal accountant fees have been reduced to SAR 110,000 instead of SAR 135,000.

 

Under the amendments, the fund will announce the net asset value of each unit within 30 days, semi-annually and within 40 days, annually.

 

Cash dividends will be at the end of October and April, instead of the end of Q2 and Q4, the statement said.

 

The amended terms can be found on Saudi Fransi Capital, the fund manager’s website.

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