Al Awsat KD MMF (Under Liquidation)


Fund is under liquidation

The Fund aims to provide investors with a highly liquid investment opportunity that aims to offer returns greater than the three-month interest rate by Kuwait Banks on customer deposits. The Fund shall invest its assets in selected money market instruments, based on their credit ratings, liquidity, diversity and yield.




FUND SUMMARY:          

Fund Manager
Kuwait & Middle East Financial Investment Company

Fund Name
Al Awsat KD MMF

Country of Domicile
Kuwait

Fund Currency
KD

Fund type
Open ended fund

Unit par value
KD 1/-

Fund capital
Fund capital is variable with a minimum of KD 5,000,000 (Five million Kuwaiti Dinars) and a maximum of KD 200,000,000 (Two Hundred million Kuwaiti Dinars)

Date of Inception
12 June 2005

Fund Duration
15 years (from the date of inception)

NAV disclosure
Monthly

Custodian
Gulf Custody Company

Auditors
RSM Albazie & Co.

Fund's objective
The Fund's current assets are invested in all the instruments available inside and outside Kuwait. This includes; treasury bills and bonds (issued by Governments, Banks and Companies in Kuwaiti Dinar or in any other foreign currency), Certificates of Deposits, Repurchase Agreements, Murabaha Agreements (not to be used in retail financing by the second party), Islamic Sukuk and other avenues of investments in monetary instruments in Kuwaiti and international markets, including investment in other funds with similar objectives, which the Manager of the fund believe are appropriate and serving the Fund's objectives in terms of liquidity and adequate return to the Fund participants

Dividend Distribution
None
















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