Blom Saudi IPO Fund - BLOMINVEST Saudi Arabia

Blom Saudi IPO Fund 2017 Interim Fund Report  Fund Manager BLOMINVEST Saudi Arabia, with its registered office at Al Oula Building, 3rd floor, King Fahad Road, Riyadh, P.O. Box 8151, Riyadh 11482, Saudi Arabia.  Names and addresses of sub-manager and/or investment adviser The Fund Manager did not appoint a sub-manager or investment advisor  Investment activities during the period The Saudi equity market ended the period on a slight positive note relative to the beginning of the year having witnessed muted overall volatility until the month of the June. June was quite eventful however, the Saudi lead coalition standoff with Qatar coupled with oil reaching its lowest YTD levels during the first half of the month exerted pressure on regional markets – however the market reversed positively on news of MSCI placing KSA on EM Watch list coinciding with the appointment of HRH Mohammed Bin Salman as crown prince, along with oil bottoming out. This led to Large caps witnessing the largest inflows, leaving smaller caps to underperform the general market index. Given the nature of the Fund’s investment universe restrictions recently listed Saudi and IPOs when there were no IPO’s offered on the main market since the beginning of the year, the fund’s benchmark declined by about 5.8% vs a 1.85% drop in the fund’s unit NAV. The fund manager expects IPO activity to pickup gradually for the remainder if 2017 and into 2018 given the current and expected market valuations and careful return to optimism.  Investment fund’s performance during the period The Fund ended the year -1.85% vs. -5.79% for the benchmark

1100 1050 1000 950

NAV

900

Ideal Ratings

850

TASI

800

 Details of any material changes made during the period

No material changes took place during the period  Investment fund invests substantially in other investment funds The Fund invested in Al-Murabih SAR Murabaha Fund in May 7, 2017 with 8% average exposure by year end. The expense ratio of the fund amounts to 25 bps. The Fund paid an average of 5 bps in management fees for the mentioned fund.