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NBK Wealth

Gulf Equity Investment Fund

The fund seeks long-term capital appreciation by investing in the stock of companies in the Gulf Cooperation Council. The Fund will follow an active management strategy of allocating its investments between the various markets in the GCC. The Fund’s objective is to achieve optimal returns over the long term by reducing the risk that comes from investing in equity markets of the GCC. Allocation among the various markets in the GCC will contribute towards achieving this objective, along with investing in money market instruments such as deposits or equivalent in Islamic banks, sukuk or bonds issued or guaranteed by the governments of the GCC, either in Kuwaiti Dinars or any other foreign currency, and also with investing in other investment funds, based on the investment expectations and strategy of the Fund Manager, and by following the investment restrictions without these investments conflicting with the rules of law (7) of 2010 Executive By-law thereof and its amendments and the resolutions, and instructions.

Investment Features

01

Easy access to your money on a weekly basis

02

Investing in equities with strong fundamentals and good long-term prospects

03

Measure fund performance against S&P Adjusted GCC Index

04

Volatility risk of the fund is high

Overview

NAV USD

18.6651

As of 15 February 2024
  • Fund Structure
    Open-ended
  • Asset Class
    Equity
  • Liquidity
    Weekly
  • Inception Date
    3 March 2016
Performance
Fund
Benchmark
First Financial Year
10.56%
20.54%
Annualized 3 Years (Since Inception)
10.54%
14.82%
Annualized 6 Years (Since Inception)
-%
-%
End of 4th Quarter 2023 (Since Inception)
103.97%
110.59%
Cumulative Return (Since Inception)
110.66%
130.33%
Annualized Return (Since Inception)
9.81%
11.05%
Annualized Standard Deviation
13.93%
14.24%

Value not available

Fund Structure

Open-ended fund

Currency:

US Dollar

Inception Date:

3 March 2016

Liquidity:

Weekly

Minimum Investment:

USD 5000/- and in increments of USD 10/-

Subscription/Redemption Dealing Day:

Wednesday of every week until 12:00 pm

Valuation Day:

Thursday

Subscription/Participation Fee:

2% if less than 500,000 1% if between 500,000 but less than 2,000,000 No Fees for 2,000,000 and above

Management Fee:

1.5% per annum

Performance Fee:

10% of any positive variance between the return of the Fund and the index during the financial year

Custodian Fee:

0.0625% of the Fund’s Asset Value until USD 60 million

0.05% of the Fund’s Asset Value for any amount above USD 60 million

Fund Manager:

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

Auditor:

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

Investment Controller & Custodian:

Gulf Custody Company

Subscription (selling) Agent:

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

Fund Regulator:

Capital Markets Authority

Domicile of the Fund:

Kuwait

Fund Manager Contact:

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

Email: menaequities@nbkwealth.com

Fact Sheet
31 / 01 / 2024
Articles of Association
21 / 09 / 2023
Subscription Form
24 / 01 / 2024
Redemption Form
11 / 06 / 2020
Financial Statements
27 / 05 / 2023

Management Team - Gulf Equity Investment Fund

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

menaequities@nbkwealth.com

NBK Wealth
Asset Management

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