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SNB Capital Diversified Saudi Riyal Fund

Diversified Fund

Essential Fund Resources

Funds Unit Prices

0.42 MB

Semi-Annual Report

1.44 MB

Terms & Conditions

0.57 MB

Annual Report‎

3.45 MB

Factsheet

0.18 MB

Disclosures

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SNB Capital Diversified Saudi Riyal Fund

SNB Capital Diversified Saudi Riyal Fund is an open public investment debt instruments fund that comply with the regulations of the Sharia Committee, aiming to achive capital growth and provide liquidity.

Principal Investment Strategies

The Fund invests primarily in financial instruments that are Sharia compliant with counterparties in the Kingdom of Saudi Arabia and abroad (Gulf countries or global markets), denominated in Riyals or any foreign currency, in accordance with the implementing regulations and related policies. The securities in which the Fund invests mainly include:

  • Short, medium, and long term financial instruments, these is include but not limited to money market transactions including: Murabaha, Wakala, Mudaraba and Musharaka, fixed income instruments, and Sharia compliant alternatives of swaps, repurchase agreement (Repo) and reverse repurchase agreement, structured products and asset‐backed securities, certificates and contracts of Leasing, financing deals, index-linked certificates and any other instruments approved by the Sharia Committee.
  • Units of public or private investment funds that mainly aim to invest in any asset classes targeted by the fund with the risk level including direct and indirect financing funds.
  • Money market instruments and fixed income instruments offered in a public or private offering in the local market or the global markets.
  • Money market instruments that are subject to /and licensed by the Central Bank or any similar regulatory Authority outside the Kingdom, and fixed income instruments issued by the fund manager or the Saudi National Bank, or any of its affiliates.
  • The fund can gain collected returns for its own cash in the account established with the custodian.
  • The minimum credit rating for most of the Fund’s and counterparty’s underlying Investments will be as determined by an international rating agency with a minimum rating of: Standard & Poor’s BBB-/Moody’s Baa3-/Fitch BBB-. If there is no credit rating for the Fund’s Investments or the counterparty’s, the Fund Manager will classify the quality of the Investments internally, based on the stability and soundness of the counterparty’s or issuer’s financial position.
  • Investment without the investment grade that classification by an international rating agency: Standard & Poor's BBB / - Moody's Baa3 / Fitch BBB - maximum as indicated in the subparagraph (d) from Paragraph (3) “Investment policies and practices”.
  • Dealing in currency exchange deals and currency or interest swap deals (implementation trading operations in foreign currencies), for the purpose of investing in securities denominated in a currency other than the Fund's currency. In addition to financial derivatives and options contracts.

 

For more information on the Fund’s investment strategies please refer to the Terms & Conditions.

Fund's Key Details

Currency:
Saudi Riyal
Risk level:
Low to moderate risk.
Benchmark:
A blended benchmark consisting of 60% of the 30 day rolling average of the 1 month Saudi Riyal Interbank Bid Rate (SAIBID) and 40% of the 30 day rolling average of the 3 year Saudi Riyal bid swap rate.
Objectives:
The fund aims to provide liquidity and enhanced capital appreciation.
Minimum Investment:
SAR 5,000
Minimum Additional Subscription:
SAR 1,000.
Minimum amount for subscription and additional subscription throw Individual Saving Program (ISP)
SAR 100
Minimum Redemption:
SAR 2,000
Valuation Days:
Every Saudi business day
Dealing Days:
Every Saudi business day
Subscription and Redemption Request cut off time
Before or at 12:00 noon on the subscription day provides that it is a dealing day
​Subscription and Redemption fees
​None.
Management Fee:
0.75% annually of NAV.
Other expenses:
The fund manager has the right to charge the fund any other legally permitted expenses, for example: custody fees, auditor fees, remuneration of independent directors of the Fund Board, CMA fees, publishing fees on the Tadawul website (the market), in addition to data processing expenses. and operations of the Fund, The other fees and expenses will not exceed 0.5% fund's total asset value during the financial year.
Initial Unit Price:
SAR 1.00
Offer Date:
October 2003

Principal Risks of Investing in the Fund

  • The Fund is considered to be of low to moderate risk, and SNB Capital gives no assurance that any appreciation in the value of the Fund’s Investments will occur, or that the value of the Fund’s underlying investments and the income derived from them may go down.  SNB Capital gives no assurance that the Fund’s investment objectives will be achieved.
  • The past performance of the Fund or the Benchmark is not an indication of their future performance. The performance of the Fund is subject to fluctuations according to the financial market conditions. Therefore, the Units’ value might drop or Unitholders might lose some or all of their invested capital. There is no guarantee that the performance of the fund will be repeated or its performance relative to the Benchmark similar to the expected fund performance.
  • The Fund does not guarantee that its absolute performance or its performance relative to the Benchmark will be repeated or similar to any past performance.
  • Investment in the Fund is not a deposit with any local bank that promotes or sells securities or affiliated with the Investment Fund or the Fund Manager. Therefore, Unitholders might lose some or all of their investments.
  • Investors may not be able to recover some or all of their investments; people are advised to invest in the Fund only if they are able to afford the loss, which can sometimes be substantial

 

For more information on the Fund’s risks please refer to the Terms & Conditions.

Legal
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SNB Capital is a Saudi Joint Stock Company with a paid up capital of SAR 1,500,000,000 and is authorised by the Capital Market Authority of the Kingdom of Saudi Arabia with a license number 37-06046 granted by Capital Market Authority to carry out dealing, as principal and agent, and underwriting, managing, arranging, advising and custody, with respect to securities. SNB Capital Company, CR1010231474, the registered office is at King Saud Road, Regional Building P.O. Box 22216, 11495 Riyadh, Kingdom of Saudi Arabia. +966 11 874 7106

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