AlKhair Capital launches Shariah-compliant IPOs fund

JEDDAH: AlKhair Capital Saudi Arabia, a major Saudi-based investments institution, has launched the AlKhair Capital IPOs Fund.
The fund aims at capital growth in the long term and investors will be able to invest with an initial minimum subscription of SR10,000. For the fund investment purposes, all companies will be compliant with AlKhair Capital KSA's Shariah standards and guidelines.
“The fund is designed to achieve long-term capital growth, as well as achieving a performance that exceeds the guiding index performance (AlKhair Capital IPO Index); the fund’s first launch period is from May 13 to June 1, 2015,” said Khalid Al-Mulhim, CEO of AlKhair Capital.
“The fund invests its assets mainly in primary markets, along with investing in recently-listed companies. These need to have been listed for less than three years in the secondary markets of the Kingdom, the GCC and MENA regions.
The fund prospectus, terms, and conditions can be viewed and accessed through Tadawul website or on AlKhair Capital Saudi Arabia’s website. AlKhair is working toward granting access to its channels and products to all investors.
Saudi Arabia is the third fastest growing economy in the G20, with an annual average growth of five per cent average over the past decade and the International Monetary Fund (IMF) promising strong growth in the years ahead. The UAE-Saudi bilateral trade accounted $19 billion in 2014, which is 50 percent of the total value of overall trade with GCC.
AlKhair Capital Saudi Arabia was established in 2009 as a closed joint stock company, with a paidup capital of SR300 million. It is licensed by the Capital Market Authority to execute transactions and offer investment fund management, client portfolios, arrangement and advisory services, with its headquarters located in Riyadh.
The company seeks to provide the market with an integrated and comprehensive range of Shariah-compliant investment products and services, with an emphasis on delivering exceptional value and tailored solutions to clients and shareholders.