MEFIC Local Equity Fund â December 2016
MEFIC Local Equity Fund – December 2016 Performance Review
Fund Background MEFIC Capital launched MEFIC Local Equity Fund on 4th May 2015. MEFIC Local Equity Fund is an open end Shariah compliant mutual fund which can invest in Saudi listed equities & IPOs.
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
Fund Allocation Telecom, 3% Insurance, 8%
Open End High MEFIC Capital BDO Dr.Mohammad Amri S&P Saudi Shariah Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 12.25MN SAR 10,000 SAR 10,000 SAR 10,000 1.5% per annum 1.5% 1.5% per annum 1.0%(Redeem in a month)
Performance Performance
1M
3M
Since Inception
Fund
4.5%
21.7%
-14.3%
TASI
3.0%
28.2%
-26.1%
S&P Shariah Index
3.2%
28.1%
-25.7%
Fund Performance
Industrial Real Estate, 5% Cash, 10% Investment, 4%
MEFIC Local Equity Fund return since inception against TASI 5.00%
-5.00%
1.32% 0.0% -3.12%-4.39% -6.9% -6.7% -0.7%
-25.00%
-35.00% Retail , 15% -45.00%
29/12/2016
30/11/2016
S&P Shariah Index
31/10/2016
9/29/2016
8/29/2016
7/28/2016
6/30/2016
TASI
5/30/2016
4/30/2016
MEFIC Local EquityFund
3/31/2016
2/29/2016
1/28/2016
12/31/2015
11/30/2015
10/31/2015
9/21/2015
8/31/2015
7/31/2015
-14.28% -7.0% -6.8% -17.96% -19.25% -19.34% -21.09% -21.52% -22.21% -22.80% -22.9%-23.7%-22.54% -23.00% -23.50% -24.63% -25.25% -25.8% -26.1% -27.0% -27.02% -28.07% -28.2% -29.1%-30.15% -29.54% -30.2% -23.1%-24.1% -33.4% -25.7% -34.8% -35.1% -27.0%-25.8% -28.0% -29.2% -37.5%-36.2%-30.0% -37.8% -38.4% -39.7% -33.1% -42.4% -34.6% -34.8% -36.1% -37.4% -37.5% -37.9% -39.9% -42.1% 6/30/2015
Petrochemi cals, 25%
5/31/2015
Banks, 11%
11.5%
Alpha Since Inception
Fund Performance
-15.00%
Transportati on, 3% Agriculture & Food, 12%
TASI ended 2016 in the green with +4% YoY return led by last quarter gains. A wave of positive sentiment and optimism from i) improved liquidity in the system following USD 17.5bn debt issuance ii) OPEC – Non-OPEC deal to cut oil production by 1.8M barrels led to sharp recovery in oil prices to $ 55 level & iii) better than expected expansionary 2017 budget with phased pass-on of subsidies against market expectations of sharp cuts in spending. During 4Q 2016, TASI witnessed three consecutive positive monthly performances, and achieved the highest level since exactly a year ago. TASI index broke the psychologically important resistance level of 7,000 points at the start of December-16 and closed the year at 7,210 level. .
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.
2
Fund Background MEFIC Capital launched MEFIC Local Equity Fund on 4th May 2015. MEFIC Local Equity Fund is an open end Shariah compliant mutual fund which can invest in Saudi listed equities & IPOs.
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
Fund Allocation Telecom, 3% Insurance, 8%
Open End High MEFIC Capital BDO Dr.Mohammad Amri S&P Saudi Shariah Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 12.25MN SAR 10,000 SAR 10,000 SAR 10,000 1.5% per annum 1.5% 1.5% per annum 1.0%(Redeem in a month)
Performance Performance
1M
3M
Since Inception
Fund
4.5%
21.7%
-14.3%
TASI
3.0%
28.2%
-26.1%
S&P Shariah Index
3.2%
28.1%
-25.7%
Fund Performance
Industrial Real Estate, 5% Cash, 10% Investment, 4%
MEFIC Local Equity Fund return since inception against TASI 5.00%
-5.00%
1.32% 0.0% -3.12%-4.39% -6.9% -6.7% -0.7%
-25.00%
-35.00% Retail , 15% -45.00%
29/12/2016
30/11/2016
S&P Shariah Index
31/10/2016
9/29/2016
8/29/2016
7/28/2016
6/30/2016
TASI
5/30/2016
4/30/2016
MEFIC Local EquityFund
3/31/2016
2/29/2016
1/28/2016
12/31/2015
11/30/2015
10/31/2015
9/21/2015
8/31/2015
7/31/2015
-14.28% -7.0% -6.8% -17.96% -19.25% -19.34% -21.09% -21.52% -22.21% -22.80% -22.9%-23.7%-22.54% -23.00% -23.50% -24.63% -25.25% -25.8% -26.1% -27.0% -27.02% -28.07% -28.2% -29.1%-30.15% -29.54% -30.2% -23.1%-24.1% -33.4% -25.7% -34.8% -35.1% -27.0%-25.8% -28.0% -29.2% -37.5%-36.2%-30.0% -37.8% -38.4% -39.7% -33.1% -42.4% -34.6% -34.8% -36.1% -37.4% -37.5% -37.9% -39.9% -42.1% 6/30/2015
Petrochemi cals, 25%
5/31/2015
Banks, 11%
11.5%
Alpha Since Inception
Fund Performance
-15.00%
Transportati on, 3% Agriculture & Food, 12%
TASI ended 2016 in the green with +4% YoY return led by last quarter gains. A wave of positive sentiment and optimism from i) improved liquidity in the system following USD 17.5bn debt issuance ii) OPEC – Non-OPEC deal to cut oil production by 1.8M barrels led to sharp recovery in oil prices to $ 55 level & iii) better than expected expansionary 2017 budget with phased pass-on of subsidies against market expectations of sharp cuts in spending. During 4Q 2016, TASI witnessed three consecutive positive monthly performances, and achieved the highest level since exactly a year ago. TASI index broke the psychologically important resistance level of 7,000 points at the start of December-16 and closed the year at 7,210 level. .
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.
2
