MEFIC IPO Fund â April 2017 - mefic.com.sa
MEFIC IPO Fund – April 2017 Performance Review
Fund Background
The flattish trend in TASI continued for the 2nd consecutive month with the benchmark index closing Apr-17 with a marginal gain of 0.2% to reach 7,013.5 points. The index managed to close slightly above the support level of 7,000 points after trading below this level for a large part of the month. On the economic front, the Kingdom made significant progress in its attempt to reduce deficits caused by low oil prices. The cost cutting adopted over the past year in addition to higher oil revenues as oil prices increased enabled the Kingdom to reduce Q1-17 expected deficits by almost 50% to SAR 26 Bn as against government's projection of SAR 52 Bn. As a result, the Kingdom announced restoring of financial allowances for civil servants and military personnel slashed last year. Monthly trading activity continues to be weak down 5% at 3.5Bn share.
MEFIC Capital launched MEFIC IPO Fund on 19th May 2014. MEFIC IPO Fund is an open end Shariah compliant mutual fund which can invest in IPOs, Small & Medium Cap Companies and the companies which are listed in the last five years.
Fund Facts Fund Type Risk Level Custodian Auditors Benchmark Listing Valuation Days Announcement Days Fund Assets Min Initial Investment Min Add Investment Min Redemp. Amount Management Fees Subscription Fees Other Fees Early Red. Charges
Performance
Open End High MEFIC Capital BDO Dr.Mohammad Amri MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 76.35MN SAR 10,000 SAR 5,000 SAR 5,000 1.75% per annum 60% 1.50% 0.5% per annum 2%(Redeem in a month) 40%
Fund Allocation
20% 0%
Banks, 3%
Cash, 24%
Development Transportati , 5% on, 5%
Materials, 12%
-20% -40% -60%
Consumer NOMU, 7% Services, 8%
1M
3M
1Y
Since Inception
Fund
1.8%
1.0%
8.7%
34%
MEFIC S&P IPO index
0.4%
-2.8%
-7.8%
-45%
TASI
0.2%
-1.2%
3.1%
-29%
Fund Performance Information Ratio
0.27
Beta
0.71
Alpha
79%
Source: TASI, MEFIC, S&P, Reuters
Fund Performance MEFIC IPO FUND Return vs. TASI & S&P BENCHMARK
46% 43% 36% 32% 34% 36%34% 34% 32% 30% 30% 29% 28%24% 25% 23% 23%22% 22% 21% 23% 20%18% 21% 20% 15% 14% 13%10% 10%7% 4% 3% 2% 0%-1% 0%-3% -5%-9% -7%-7% -8% -9% 11%11% -15% 4% 3% 1%-2% -23% -24% -2%-3% -26% -26% -29%-29% -27% -29% -30% -7%-9% -31% -9%-12%-9%-7%-11% -35% -35% -38% -38% -39% MEFIC IPO FUND -43% -26% -27% -28% -28% TASI -32% -39% -39% -40% -40% -40% S&P IPO BENCHMARK -43% -44% -45% -45% -46% -46% -47% -49% -51%
30/04/2017 31/03/2017 28/02/2017 30/01/2017 29/12/2016 30/11/2016 31/10/2016 9/29/2016 8/29/2016 7/28/2016 6/30/2016 5/30/2016 4/30/2016 3/31/2016 2/29/2016 1/31/2016 12/31/2015 11/30/2015 10/31/2015 9/30/2015 8/31/2015 7/30/2015 6/30/2015 5/28/2015 4/30/2015 3/31/2015 2/28/2015 1/31/2015 12/31/2014 11/30/2014 10/31/2014 9/30/2014 8/31/2014 7/31/2014 6/30/2014 5/31/2014
Capital Goods, 3% Insurance, 4% Real Estate Management Retailing, 5% and
Healthcare, 25%
Performance
Contact Information
MEFIC Website
www.mefic.com.sa
Tadawul
www.Tadawul.com.sa 7758, 1st Floor Al Mada Building, King Fahad Road, Riyadh, Saudi Arabia
Address Phone
00966 11 218 6666
Email
[email protected]
Disclaimer All investments in Mutual Funds are subject to market risks. The NAV of the fund units may go up or down based on the market conditions. Past performance is not necessarily indicative of future results. The investors are advised in their own interest to carefully read the Terms & Conditions of the fund in particular the risk disclosures and warning statements mentioned therein.
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Fund Background
The flattish trend in TASI continued for the 2nd consecutive month with the benchmark index closing Apr-17 with a marginal gain of 0.2% to reach 7,013.5 points. The index managed to close slightly above the support level of 7,000 points after trading below this level for a large part of the month. On the economic front, the Kingdom made significant progress in its attempt to reduce deficits caused by low oil prices. The cost cutting adopted over the past year in addition to higher oil revenues as oil prices increased enabled the Kingdom to reduce Q1-17 expected deficits by almost 50% to SAR 26 Bn as against government's projection of SAR 52 Bn. As a result, the Kingdom announced restoring of financial allowances for civil servants and military personnel slashed last year. Monthly trading activity continues to be weak down 5% at 3.5Bn share.
MEFIC Capital launched MEFIC IPO Fund on 19th May 2014. MEFIC IPO Fund is an open end Shariah compliant mutual fund which can invest in IPOs, Small & Medium Cap Companies and the companies which are listed in the last five years.
Fund Facts Fund Type Risk Level Custodian Auditors Benchmark Listing Valuation Days Announcement Days Fund Assets Min Initial Investment Min Add Investment Min Redemp. Amount Management Fees Subscription Fees Other Fees Early Red. Charges
Performance
Open End High MEFIC Capital BDO Dr.Mohammad Amri MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 76.35MN SAR 10,000 SAR 5,000 SAR 5,000 1.75% per annum 60% 1.50% 0.5% per annum 2%(Redeem in a month) 40%
Fund Allocation
20% 0%
Banks, 3%
Cash, 24%
Development Transportati , 5% on, 5%
Materials, 12%
-20% -40% -60%
Consumer NOMU, 7% Services, 8%
1M
3M
1Y
Since Inception
Fund
1.8%
1.0%
8.7%
34%
MEFIC S&P IPO index
0.4%
-2.8%
-7.8%
-45%
TASI
0.2%
-1.2%
3.1%
-29%
Fund Performance Information Ratio
0.27
Beta
0.71
Alpha
79%
Source: TASI, MEFIC, S&P, Reuters
Fund Performance MEFIC IPO FUND Return vs. TASI & S&P BENCHMARK
46% 43% 36% 32% 34% 36%34% 34% 32% 30% 30% 29% 28%24% 25% 23% 23%22% 22% 21% 23% 20%18% 21% 20% 15% 14% 13%10% 10%7% 4% 3% 2% 0%-1% 0%-3% -5%-9% -7%-7% -8% -9% 11%11% -15% 4% 3% 1%-2% -23% -24% -2%-3% -26% -26% -29%-29% -27% -29% -30% -7%-9% -31% -9%-12%-9%-7%-11% -35% -35% -38% -38% -39% MEFIC IPO FUND -43% -26% -27% -28% -28% TASI -32% -39% -39% -40% -40% -40% S&P IPO BENCHMARK -43% -44% -45% -45% -46% -46% -47% -49% -51%
30/04/2017 31/03/2017 28/02/2017 30/01/2017 29/12/2016 30/11/2016 31/10/2016 9/29/2016 8/29/2016 7/28/2016 6/30/2016 5/30/2016 4/30/2016 3/31/2016 2/29/2016 1/31/2016 12/31/2015 11/30/2015 10/31/2015 9/30/2015 8/31/2015 7/30/2015 6/30/2015 5/28/2015 4/30/2015 3/31/2015 2/28/2015 1/31/2015 12/31/2014 11/30/2014 10/31/2014 9/30/2014 8/31/2014 7/31/2014 6/30/2014 5/31/2014
Capital Goods, 3% Insurance, 4% Real Estate Management Retailing, 5% and
Healthcare, 25%
Performance
Contact Information
MEFIC Website
www.mefic.com.sa
Tadawul
www.Tadawul.com.sa 7758, 1st Floor Al Mada Building, King Fahad Road, Riyadh, Saudi Arabia
Address Phone
00966 11 218 6666
[email protected]
Disclaimer All investments in Mutual Funds are subject to market risks. The NAV of the fund units may go up or down based on the market conditions. Past performance is not necessarily indicative of future results. The investors are advised in their own interest to carefully read the Terms & Conditions of the fund in particular the risk disclosures and warning statements mentioned therein.
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