MEFIC IPO Fund â January 2017
MEFIC IPO Fund – January 2017 Performance Review
Fund Background 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
Open End High MEFIC Capital BDO Dr.Mohammad Amri MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 76.19MN SAR 10,000 SAR 5,000 SAR 5,000 1.75% per annum 1.50% 0.5% per annum 2%(Redeem in a month)
Fund Allocation
TASI started 2017 on a negative note, with overall Index going down by 1.5% during Jan-2017 to close at 7,100. Key factor prevailing the negative sentiment in the market was the poor corporate earnings announcements by major listed companies. Two key heavyweight sectors namely i) Banks and ii) Petrochemicals posted YoY decline in their profitability metrics. However, market took the breather towards the end of the month with MSCI announcing to consider a review of Saudi Arabia in Emerging Market Index in June 2017. Further on positive note, i) TASI adopted the GICS standards for sector classification on the exchange and ii) draft rule for T+2 settlement was also published by CMA with target adoption by June 2017.
Performance Performance
1M
3M
Since Inception
Fund
-2.51%
9.81%
32.25%
MEFIC S&P IPO index
-4.35%
11.94%
-42.96%
TASI
-1.51%
18.12%
-27.60%
Fund Performance Information Ratio
0.38
Beta
0.74
Alpha
75.20%
Fund Performance MEFIC IPO Fund return since inception 60% 40% 20% 0%
Cash 34%
-20%
Retail , 29%
44%46%43% 36%34% 22% 3% 4% 0% -3% 1% -2% 4%
28%25% 23%26%
21%23%22%20%18% 8% 7%
15%
36% 28% 21%
14%
32%
20%
31/01/2017
29/12/2016
30/11/2016
31/10/2016
9/29/2016
8/29/2016
7/28/2016
6/30/2016
MEFIC S&P Index
5/30/2016
4/30/2016
3/31/2016
2/29/2016
1/31/2016
12/31/2015
TASI
11/30/2015
10/31/2015
9/30/2015
MEFIC IPO FUND
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
0% -1% -5% -9% -7% -7% -8% -9% -15% 3% -26% -28% -23%-24% -26% -2% -3% -27% -30% -29% -7% -9% -9%-12%-9% -7%-11% -31% -34% -35% -35%-38% -39% -40%-38%-37% -43% -26% -27% -28%-28% -32% -40% -40%-39%-39%-40% -44% -43% -46%-47%-46% -49%-51%-49%
10/31/2014
9/30/2014
8/31/2014
Petrochemi cals, 10%
7/31/2014
Banks, 2%
6/30/2014
Constructio n, 6%
25%
2% 11%11%
-60% 5/31/2014
Transportati on, 5%
Real Estate Developme nt, 3% Building &
23%22%
34%
13%10%
-40%
Insurance, 4%
30%
30%32%
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 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
Open End High MEFIC Capital BDO Dr.Mohammad Amri MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 76.19MN SAR 10,000 SAR 5,000 SAR 5,000 1.75% per annum 1.50% 0.5% per annum 2%(Redeem in a month)
Fund Allocation
TASI started 2017 on a negative note, with overall Index going down by 1.5% during Jan-2017 to close at 7,100. Key factor prevailing the negative sentiment in the market was the poor corporate earnings announcements by major listed companies. Two key heavyweight sectors namely i) Banks and ii) Petrochemicals posted YoY decline in their profitability metrics. However, market took the breather towards the end of the month with MSCI announcing to consider a review of Saudi Arabia in Emerging Market Index in June 2017. Further on positive note, i) TASI adopted the GICS standards for sector classification on the exchange and ii) draft rule for T+2 settlement was also published by CMA with target adoption by June 2017.
Performance Performance
1M
3M
Since Inception
Fund
-2.51%
9.81%
32.25%
MEFIC S&P IPO index
-4.35%
11.94%
-42.96%
TASI
-1.51%
18.12%
-27.60%
Fund Performance Information Ratio
0.38
Beta
0.74
Alpha
75.20%
Fund Performance MEFIC IPO Fund return since inception 60% 40% 20% 0%
Cash 34%
-20%
Retail , 29%
44%46%43% 36%34% 22% 3% 4% 0% -3% 1% -2% 4%
28%25% 23%26%
21%23%22%20%18% 8% 7%
15%
36% 28% 21%
14%
32%
20%
31/01/2017
29/12/2016
30/11/2016
31/10/2016
9/29/2016
8/29/2016
7/28/2016
6/30/2016
MEFIC S&P Index
5/30/2016
4/30/2016
3/31/2016
2/29/2016
1/31/2016
12/31/2015
TASI
11/30/2015
10/31/2015
9/30/2015
MEFIC IPO FUND
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
0% -1% -5% -9% -7% -7% -8% -9% -15% 3% -26% -28% -23%-24% -26% -2% -3% -27% -30% -29% -7% -9% -9%-12%-9% -7%-11% -31% -34% -35% -35%-38% -39% -40%-38%-37% -43% -26% -27% -28%-28% -32% -40% -40%-39%-39%-40% -44% -43% -46%-47%-46% -49%-51%-49%
10/31/2014
9/30/2014
8/31/2014
Petrochemi cals, 10%
7/31/2014
Banks, 2%
6/30/2014
Constructio n, 6%
25%
2% 11%11%
-60% 5/31/2014
Transportati on, 5%
Real Estate Developme nt, 3% Building &
23%22%
34%
13%10%
-40%
Insurance, 4%
30%
30%32%
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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