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SNB Capital Diversified US Dollar Fund

Diversified Funds

Essential Fund Resources

Funds Unit Prices

0.42 MB

Semi-Annual Report

0.93 MB

Terms & Conditions

0.42 MB

Annual Report

3.32 MB

Factsheet

0.19 MB

Disclosures

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SNB Capital Diversified US Dollar Fund

SNB Capital Diversified US Dollar Fund is an open ended investment fund which aims to provide liquidity and enhanced capital appreciation in a Sharia-compliant manner.

Principal Investment Strategies

Following are the main investment strategies to be implemented:

  • Investing primarily in Sharia compliant short, medium, and long term financial instruments, such as money market transactions including: Murabaha, Wakala, Mudaraba and Musharaka, fixed income instruments, and Sharia compliant swap alternatives, repurchase agreement (repo) and reverse repurchase agreement, structured products and asset‐backed securities.

  • The Fund invests primarily in a selection of financial instruments with counterparties in the Kingdom of Saudi Arabia licensed by the Saudi Arabian Monetary Agency or with other counterpart licensed by equivalent regulator outside the Kingdom of Saudi Arabia.
    Not more than 25% of the Fund’s NAV may be invested in different parties belonging to the same group, including all investments in securities issued by different parties belonging to the same group and money market transactions concluded with different parties belong to the same group and bank deposits with different parties belong to the same group.

  • The Fund seeks to reduce the risk levels through conducting investments with companies / counterparties which have good and sound financial backing based on strategies of cash management and diversified investments.
    The Fund may invest in fixed income instruments of no more than 40% of the Fund's Net Asset Value. The Fund may invest no more than 10% of its Net Asset Value in sub-investment grade instruments with lower than the following credit rating: Standard & Poor's: BBB- , Moody Baa3 and Fitch: BBB-.

  • The minimum credit rating for most of the underlying investments and counterparties will be as determined by one of the international credit rating agencies as per the following: Standard & Poor's: BBB-, Moody's Baa3, Fitch: BBB-. In the absence of credit rating of the Fund's investments or counterparties, the Fund Manager will rate the quality of investments internally based on the stability and soundness of financial position of the counterparty or the issuer.


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

Fund's Key Details

Currency
US Dollar
Risk level
Low to Medium Risk. For more details, please see paragraph 10 of these terms and conditions
Benchmark
A blended benchmark consisting of 80% of the (30) day rolling average of the (1) month USD London Interbank Bid Rate (LIBID) and 20% of the (30) day rolling average of the (5) year US Dollar bid swap rate
Objectives
To provide liquidity and capital appreciation
Minimum Investment
USD 2,000
Minimum Additional Subscription
USD 1,000
Minimum Additional Subscription through Regular Investment Scheme and alternative channels
USD 26.67 (SAR 100)
Minimum Redemption
USD 1,000
Minimum Holding of Units
USD 1000, with the exception of participants through Regular Investment Schemes
Valuation Days
Every dealing day
Dealing Days
Every Saudi Business day
Subscription/ Redemption Days
Every Saudi Business day
Subscription Request cut off time
Before or at 12:00 noon on the subscription day provides that it is a dealing day
Management Fee
0.75% p.a. of the Fund’s NAV to be calculated and deducted on each valuation day
Payment of Redemption Proceeds
Redemption Proceeds will be made available to the Unitholder before the close of business on the third business day following the Valuation Day
Other expenses
The Fund Manager will charge the Fund any expenses related to custody, Shariah audit, data processing and other similar charges including Audit fees. However, other expenses are not expected to exceed 0.50% from the Fund’s NAV
Initial Unit Price
USD 1.00
Offer Date
October 2003

Principal Risks of Investing in the Fund

The Fund is of low to Medium risk and no assurance may be given by NCB Capital that any appreciation in the value of the Fund’s investments will occur. The value of the Fund’s underlying investments and the income derived from them may go down. No assurance may be given by NCB Capital that investment objectives of the Fund will actually be achieved. Moreover, past performance of the Fund, if any, is not an indication of any future growth of return.

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

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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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