Alkhabeer Diversified Income Traded Fund logo
Alkhabeer Diversified Income Traded Fund will be listed as a closed-ended investment traded fund on the Saudi Stock Exchange (Tadawul), and units will begin trading today, Jan. 19, 2021.
The listing of Alkhabeer Diversified Income Traded Fund is the first for this type of funds in the Saudi market.
The fund aims to provide investors with the opportunity to achieve periodic returns by investing in income-generating assets, which vary across different categories, including sukuk, trade finance, Ijara, income and Murabaha funds, within multiple sectors in the developing and emerging local, regional and global markets.
The fund attracted more than 89,000 subscribers, with net subscription value of SAR 472.8 million, during the IPO period of 15 business days, which ended on Dec. 24, 2020.
Units will trade with the symbol 4700, a daily price fluctuation limit of +/-30% and static price fluctuation limit of +/-10%.
These fluctuation limits will be applied during the first three days of trading, and will revert to +/-10% on the fourth day, while the static price fluctuation limits will no longer apply.
The constant limit of volatility is applied when the price of the security reaches 10%, whether up or down, leading to the activation of the price volatility auction, to set a new constant limit for the security based on the new reference price resulting from the price volatility auction.
The volatility auction is activated for a period of five minutes when the price of the security reaches 10%, whether up or down. It is an auction that begins when the price of the security reaches the constant limit of volatility that can be repeated several times during the trading session, resulting in a new reference price that fixed price limits is built on.
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Alkhabeer Diversified Income Traded Fund Profile |
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Fund |
Alkhabeer Diversified Income Traded Fund - a Shariah-compliant closed-ended traded fund |
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Investment objectives |
Generate periodic income for the investors by investing in various Shariah-compliant income-generating assets |
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Fund size |
SAR 1 bln |
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Total number of units |
100 mln |
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Unit price |
SAR 10 |
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Subscription fees |
1% of the allocated cash subscription amount. Such fees are payable upon subscription in the fund
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Fund manager |
Alkhabeer Capital |
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Dividend policy |
The fund aims to distribute 100% of the semi-annual profits received from its investment returns after deducting expenses to unit holders twice a year, excluding capital gains resulting from the sale of invested assets, which may be reinvested in other assets or distribute all or part of them according to the fund manager’s assessment. The fund will distribute the profits within 40 business days from the last day of each half year and at the end of each calendar year i.e. during the months of August and February of each calendar year. Any cash dividends will be deposited into the investment account of the unit holders. |
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