Derayah provides facility for mutual funds investors

RIYADH: With the ultimate goal of empowering individual investors to take control of their financial destiny, Derayah, the first and the only independent CMA-licensed one-stop shop for individual investors in the region, launched the largest mutual fund supermarket in the Middle East this week.

It enables clients to invest in over 60 mutual funds managed by more than seven banks and investment companies through its website www.derayah.com.

Speaking on this occasion, Mohammad A. ElKuwaiz, Derayah’s managing director, said that the new website was an “effective tool that empowers individual investors with access to the widest variety of investment products, along with transparent and independent information to make the right selection.” Derayah recently obtained a license from the Capital Markets Authority (CMA) to begin operations.

Derayah is the first company enabling clients to conveniently access multiple mutual funds from multiple providers through a single account with no minimums or fees for opening an account and with as little as SR500 to invest.

“For many years, investors had to either spend a long time searching for relevant information to trade directly or to invest through mutual funds. The problem is that banks and investment companies only offer funds that they manage themselves, which reduces the choices available to investors, while most experts recommend diversification,” said ElKuwaiz.

“This is why Derayah chose from the beginning to be aligned with the individual investor,” said Derayah chief.