Amwal MMF (Under Liquidation)


Fund is under liquidation

The Fund's objective is to achieve a competitive return on the short and medium term through the use of traditional financial instruments that are available in the Kuwaiti market. To reach such goals the Fund's assets shall be invested in the available money markets inside and outside the State of Kuwait. The Fund is based on the Islamic Sharia regulations that are set by the Sharia Supervision Authority.




FUND SUMMARY:          

NAV disclosure
Monthly

Fund Duration
15 years (from the date of inception)

Date of Inception
19 April 2006

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)

Fund Currency
KD

Fund type
Open ended fund

Unit par value
KD 1/-

Fund Name
Amwal Money Market Fund

Country of Domicile
Kuwait

Fund Manager
Kuwait & Middle East Financial Investment Company & Aayan Leasing and Investment Company

Custodian
Gulf Custody Company

Auditors
RSM Albazie & Co.

Fund's objective
The Fund's objective is to achieve a competitive return to the short and medium term traditional financial instruments that are available in the Kuwaiti market, to reach such goals the Fund assets shall be invested in the available money market and financial instrument inside and out side the State of Kuwait. These investments include the Islamic Governmental Sukuk Venture issued by institutes, banks and companies available in Kuwaiti Dinars or any other Major currencies (outside the State of Kuwait). The Fund assets can participate in other investment process with a guarantee from the financial cooperation, local and international banking from their issuance of Sukuk on that behalf. The Fund assets can also participate in public and private subscriptions this includes investments portfolio according to the fund's Articles of association and the Fund sharia regulation that are accredited by the sharia supervision authority which the Fund Manager believes are appropriate and suitable to achieve the Fund objective from a liquidity point of view and adequate returns to the Fund investors by investing in similar money market funds with similar objectives with the condition of not using the fund assets in retail financing by the second party.

Dividend Distribution
None
















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