Al Awsat USD MMF (Under Liquidation)


Fund is under liquidation

The Fund seeks to provide unit holders with a high liquidity investment opportunity by offering greater return than the three-month interest rate payable by Kuwait Banks on customer deposits through investing the fund's current assets in all available instruments inside and outside Kuwait.




FUND SUMMARY:          

Fund Manager
Kuwait & Middle East Financial Investment Company

Fund Name
Al Awsat USD MMF

Country of Domicile
Kuwait

Fund Currency
USD

Fund type
Open ended fund

Unit par value
10.00 USD

Fund capital
Fund capital is variable with a minimum of USD 5,000,000 (Five million USD) and a maximum of USD 100,000,000 (One Hundred million USD.

Date of Inception
19 April 2006

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 invests its current assets in all the instruments available inside and outside Kuwait. This includes; treasury bills and bonds (issued by Governments, Banks and Companies in US Dollars), 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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