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NBK Wealth

Watani USD Money Market Fund According to Islamic Shariah Principles II

The fund seeks to achieve competitive returns by investing in short and medium-term financial instruments that are compliant with the Islamic Shariah and are available in the financial market, such as the instruments arising from murabaha operations (involvement in this activity does not result in any direct or indirect financing).

The fund may invest in other investment funds whose investment objectives are similar to those of the Fund and that are compliant with the Islamic Shariah to the extent that they do not conflict with the investment methods and policies specified in Articles of Association. All the instruments in which the fund will invest in should comply with the provisions of Islamic Shariah as determined by the Fund’s External Shariah Audit Office. The fund will seek to maximize its net asset value while maintaining a high level of liquidity by investing in high-quality instruments. The instruments in which the fund will invest in are denominated in US Dollars. The fund has the right to invest in instruments denominated in other currencies.

Investment Features

01

Potential returns higher than Fixed Deposits

02

Easy weekly access to your money

03

High-quality money market instruments

04

Low-risk investment

Overview

NAV USD

11.321224

As of 20 February 2024
  • Fund Structure
    Open-ended
  • Asset Class
    Money Market
  • Liquidity
    Weekly
  • Inception Date
    13 July 2015
Performance
Fund
First Financial Year
0.60%
Annualized 3 Years (Since Inception)
0.66%
Annualized 6 Years (Since Inception)
0.85%
End of Q4'23 (Since Inception)
12.32%
Cumulative Return (Since Inception)
13.21%
Annualized Return Since Inception
1.43%

Value not available

Fund Structure:

Open-ended fund

Currency:

U.S. Dollar

Inception Date:

13 July 2015

Liquidity:

Weekly

Minimum Investment:

USD 500/- and in increments of USD 10/-

Subscription/Redemption Deadline:

By 12:00 p.m. on Monday

Valuation Day:

Tuesday

Payment of Redemption Proceeds:

The next business day following the NAV Valuation day; or as otherwise described in the Fund’s Articles of Association

Management Fee:

Up to 1.00% per annum

Investment Advisor Fee:

0.1% per annum

Investment Controller's Fee:

0.05% of the Fund’s Net Asset Value until USD 1.5 million

0.035% of the Fund’s Net Asset Value for the amount above USD 1.5 million until USD 2.5 million

0.02% of the Fund’s Net Asset Value for any amount above KD 2.5 million

Fees of the Custodian:

0.05% of the Fund’s Net Asset Value until USD 1.5 million

0.035% of the Fund’s Net Asset Value for the amount above USD 1.5 million until USD 2.5 million

0.02% of the Fund’s Net Asset Value for any amount above KD 2.5 million

Fund Manager:

Watani Investment Company K.S.C.C. (regulated by Capital Markets Authority)

Selling Agent:

National Bank of Kuwait S.A.K.P.

Custodian and Investment Controller:

Kuwait Clearing Company K.S.C.

Auditor:

Rasheed Al-Qenae | KPMG Safi Al-Mutawa & Partners

Fund Regulator:

Capital Markets Authority

Domicile of the Fund:

Kuwait

Fund Manager Contact:

Floor 35, NBK Tower, Jaber Al-Mubarak & AlShuhada Street, Block 7, Plot 6, Sharq, Kuwait, P.O. Box 4950 Safat, 13050 Kuwait

Email: NBKC-Fundadministration@nbkcapital.com

Fact Sheet
31 / 01 / 2024
Articles of Association
22 / 09 / 2023
Subscription Form
01 / 09 / 2023
Redemption Form
12 / 06 / 2020
Investment Risks
28 / 05 / 2023
Financial Statements
22 / 05 / 2023

Management Team - Watani USD Money Market Fund According to Islamic Shariah Principles II

Contact Fund

Floor 35, NBK Tower, Sharq Area, Jaber Al-Mubarak & AlShuhada Street, Block 7, Plot 6, Kuwait, P.O. Box 4950 Safat, 13050 Kuwait

NBKW-FundAdministration@nbkwealth.com

NBK Wealth
Asset Management

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