IMSF Jun 2016 Factsheet(30062016).xlsx - Itqan Capital
Fact sheet - 30 June 2016
NAV per unit SAR 11.0219
Key Facts Fund Manager
Itqan Capital
Fund Class
Capital Preservation
Currency
Saudi Riyal (SAR)
Fund Type
Open-ended Fund
Fund Category
Diversified Public Fund
Subscription
Every working day
Redemption
Thursday & Monday
Valuation Days
Sunday & Tuesday
Redemption Payment
Within 2 working days of next valuation day
Unit Value @ Inception
SAR 10
Commencement
4-Aug-2008
Benchmark
Three months SIBID
Risk Level
Low-Medium
Fund Manager Commentary Itqan Murabahat and Sukuk Fund continued to strongly outperform its mandated benchmark and comparable peers in the first half of the year 2016, achieving an annualized return of 2.73% for the period. This adds to the Fund's stellar run in the first half of 2016 and raises the Fund's total return since inception and accumulative alpha to 10.22% and 4.96%, respectively. International fixed income markets had rather witnessed a great challenge in the first half of the year 2016 as a result of the economic problems that had a direct impact on the market. The two hot issues that remained in the limelight were the European Central Bank decided to lower the interest rate along with the withdrawal of England from the EU. Moreover, the American Federal Reserve does not increases the interest rate which increased the concerns on the slowdown of the global economy. However, the fixed income markets were not directly affected by those circumstances, especially due to the stability witnessed in the oil prices in the Q2 of 2016. issue, which is expected to witness a rise. This would pave the road
Fund Performance
for the financial markets in the GCC countries to recover. Although, the Sukuk issued by the government and the high quality papers were initially falling due to rate hike concerns started picking up again attracting safe haven flows. In this context, the Fund Manager remained highly selective and cautious in the overall Sukuk allocation as well as selection. Furthermore, the Fund Manager continued to deploy funds at competitive Murabaha rates with reputable GCC financial institutions and the hunt for better rates still continues. This is to prevent any negative consequences that might arise in case if the American Federal Reserve decided to raise the interest rates and to account for the continuation of financial volatility and disturbances due to the withdrawal of England from the EU and the potential withdrawal of other countries.
Performance - Since August 2008 IMS Fund
Benchmark
0.25% annually of NAV
Admin & Unit Processing fee
0.15% annually of NAV
Other Fees
0.10% annually of NAV
External Auditor
Osama Abdullah Al-Kharigy & Partner
Bloomberg Ticker
ALDLIQS AB
Morningstar SecID
F00000PW83
Reuters Code
LP65135696
Zawya Code
TFGADLS.IF
Benchmark
2011
0.65%
0.25%
2012
0.82%
0.76%
2013
0.83%
0.78%
2014
1.78%
0.82%
2015
2.31%
0.72%
1.36%
0.94%
Since Inception
1 H 2016
10.22%
5.26%
Accumulative Alpha
4.96%
Asset Allocation
Fund Objectives
Alpha < 1 m; 1- 3 m; 7% 5% 6- 9 m; 5%
12.00%
10.00%
Management Fee
Fund
9m-1 yr.; 13% 8.00% 1 yr.+; 70%
6.00%
3- 6 m; 0%
Itqan Murabahat & Sukuk Fund (SAR) is a public diversified fund aimed at realizing Shariahcompliant superior returns while preserving capital participation, providing investors with the facility of redemption upon need and with the best method of risk management. In order to achieve its investment objectives, the Fund will primarily invest in a diversified portfolio of high-quality Shariah-compliant short- and medium-term investment instruments including: commodity Murabaha-based transactions, various kinds of listed Sukuk, and units of investment funds investing primarily in Murabahat transactions and/or Sukuk.
CASH 0% FUNDS 4%
4.00%
SAR 39%
2.00% MURABAHAT 34% 0.00% USD 52% -2.00%
Aug-08 Oct-08 Dec-08 Feb-09 Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10 Dec-10 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 Apr-16 Jun-16
Fund Ranking: No. # 1 in KSA (as per Tadawul)
Itqan Capital, authorized by CMA, license # 07058-37, PO Box 8021, Jeddah , Elite Al Shatea, Al Malik Road, KSA. Tel. +966 12 234 7000, Fax. +966 12 234 7222, Toll Free 800 30 30 800
SUKUK 61%
Disclaimer: Neither the past performance of the investment fund nor the past performance of the index is an indication of how the investment fund will perform in the future. There is no guarantee for unit holders that the investment fund's absolute performance or its performance relative to the index will repeat or match past performance.
BHD 9%
www.itqancapital.com A member of Al Baraka Banking Group
NAV per unit SAR 11.0219
Key Facts Fund Manager
Itqan Capital
Fund Class
Capital Preservation
Currency
Saudi Riyal (SAR)
Fund Type
Open-ended Fund
Fund Category
Diversified Public Fund
Subscription
Every working day
Redemption
Thursday & Monday
Valuation Days
Sunday & Tuesday
Redemption Payment
Within 2 working days of next valuation day
Unit Value @ Inception
SAR 10
Commencement
4-Aug-2008
Benchmark
Three months SIBID
Risk Level
Low-Medium
Fund Manager Commentary Itqan Murabahat and Sukuk Fund continued to strongly outperform its mandated benchmark and comparable peers in the first half of the year 2016, achieving an annualized return of 2.73% for the period. This adds to the Fund's stellar run in the first half of 2016 and raises the Fund's total return since inception and accumulative alpha to 10.22% and 4.96%, respectively. International fixed income markets had rather witnessed a great challenge in the first half of the year 2016 as a result of the economic problems that had a direct impact on the market. The two hot issues that remained in the limelight were the European Central Bank decided to lower the interest rate along with the withdrawal of England from the EU. Moreover, the American Federal Reserve does not increases the interest rate which increased the concerns on the slowdown of the global economy. However, the fixed income markets were not directly affected by those circumstances, especially due to the stability witnessed in the oil prices in the Q2 of 2016. issue, which is expected to witness a rise. This would pave the road
Fund Performance
for the financial markets in the GCC countries to recover. Although, the Sukuk issued by the government and the high quality papers were initially falling due to rate hike concerns started picking up again attracting safe haven flows. In this context, the Fund Manager remained highly selective and cautious in the overall Sukuk allocation as well as selection. Furthermore, the Fund Manager continued to deploy funds at competitive Murabaha rates with reputable GCC financial institutions and the hunt for better rates still continues. This is to prevent any negative consequences that might arise in case if the American Federal Reserve decided to raise the interest rates and to account for the continuation of financial volatility and disturbances due to the withdrawal of England from the EU and the potential withdrawal of other countries.
Performance - Since August 2008 IMS Fund
Benchmark
0.25% annually of NAV
Admin & Unit Processing fee
0.15% annually of NAV
Other Fees
0.10% annually of NAV
External Auditor
Osama Abdullah Al-Kharigy & Partner
Bloomberg Ticker
ALDLIQS AB
Morningstar SecID
F00000PW83
Reuters Code
LP65135696
Zawya Code
TFGADLS.IF
Benchmark
2011
0.65%
0.25%
2012
0.82%
0.76%
2013
0.83%
0.78%
2014
1.78%
0.82%
2015
2.31%
0.72%
1.36%
0.94%
Since Inception
1 H 2016
10.22%
5.26%
Accumulative Alpha
4.96%
Asset Allocation
Fund Objectives
Alpha < 1 m; 1- 3 m; 7% 5% 6- 9 m; 5%
12.00%
10.00%
Management Fee
Fund
9m-1 yr.; 13% 8.00% 1 yr.+; 70%
6.00%
3- 6 m; 0%
Itqan Murabahat & Sukuk Fund (SAR) is a public diversified fund aimed at realizing Shariahcompliant superior returns while preserving capital participation, providing investors with the facility of redemption upon need and with the best method of risk management. In order to achieve its investment objectives, the Fund will primarily invest in a diversified portfolio of high-quality Shariah-compliant short- and medium-term investment instruments including: commodity Murabaha-based transactions, various kinds of listed Sukuk, and units of investment funds investing primarily in Murabahat transactions and/or Sukuk.
CASH 0% FUNDS 4%
4.00%
SAR 39%
2.00% MURABAHAT 34% 0.00% USD 52% -2.00%
Aug-08 Oct-08 Dec-08 Feb-09 Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10 Dec-10 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 Apr-16 Jun-16
Fund Ranking: No. # 1 in KSA (as per Tadawul)
Itqan Capital, authorized by CMA, license # 07058-37, PO Box 8021, Jeddah , Elite Al Shatea, Al Malik Road, KSA. Tel. +966 12 234 7000, Fax. +966 12 234 7222, Toll Free 800 30 30 800
SUKUK 61%
Disclaimer: Neither the past performance of the investment fund nor the past performance of the index is an indication of how the investment fund will perform in the future. There is no guarantee for unit holders that the investment fund's absolute performance or its performance relative to the index will repeat or match past performance.
BHD 9%
www.itqancapital.com A member of Al Baraka Banking Group
