MEFIC Local Equity Fund â September 2016
MEFIC Local Equity Fund – September 2016 Fund Background
Performance Review
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.
TASI continued to decline for the 3rd consecutive month declining by 7.5% in Sep-16, the steepest monthly decline since Jan-16 while on YTD basis posting a decline of 19%. Apart from weak oil prices, the tough austerity measures announced by the government pushed TASI downwards as the decision to slash public sector bonuses & allowances alongside expectations for further subsidy cuts in upcoming budget impacted investor sentiments. Moreover, the US senate approved JASTA bill (allows sovereign legislation for families of the Sept. 11 victims) also had an negative impact on market. The fund continues to outperform the market on since inception basis with an alpha of +12.5% .
Fund Facts
Performance
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 S&P Shariah Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 7.7 MN 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 Fund TASI S&P Shariah Index
Telecom, 5% Insurance, 6%
Since Inception
-5.7% -7.4% -7.4%
-10.2% -13% -13.4%
-30% -42% -42%
Alpha
12.5%
Fund Performance MEFIC Local Equity Fund return since inception against TASI 5% 0% 0%
1% 0%
-5% 0%
-1%
-10%
-3% -7%
-4% -7%
-7%
-7%
-19% -19% -23% -24%
-20% -25%
-27%
-22% -26%
-27%
-26%
-23%
-23% -24%
-30%
Transportati on, 3%
3M
Fund Performance
-15%
Fund Allocation
1M
-29% -29%
-35%
-21%
-24% -30% -40%
-40%
-38% -38%
-23%
-25% -30%
-30% -36%
-35%
-33%
-35%
-30% -35%
-36%
-33%
-38%
-42% -37% -42% 9/25/2016
8/26/2016
S&P Shariah Index
-35% 7/27/2016
6/27/2016
5/28/2016
4/28/2016
MEFIC Local Equity Fund
-22%
-27%
3/29/2016
2/28/2016
1/29/2016
12/30/2015
11/30/2015
TASI
10/31/2015
10/1/2015
9/1/2015
8/2/2015
7/3/2015
Retail , 19%
-40%
-45% 6/3/2015
Petrochemic als, 10% Banks, 5%
Cash & Other Funds, 38%
5/4/2015
Agriculture & Food, 12%
-28%
-23%
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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Performance Review
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.
TASI continued to decline for the 3rd consecutive month declining by 7.5% in Sep-16, the steepest monthly decline since Jan-16 while on YTD basis posting a decline of 19%. Apart from weak oil prices, the tough austerity measures announced by the government pushed TASI downwards as the decision to slash public sector bonuses & allowances alongside expectations for further subsidy cuts in upcoming budget impacted investor sentiments. Moreover, the US senate approved JASTA bill (allows sovereign legislation for families of the Sept. 11 victims) also had an negative impact on market. The fund continues to outperform the market on since inception basis with an alpha of +12.5% .
Fund Facts
Performance
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 S&P Shariah Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 7.7 MN 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 Fund TASI S&P Shariah Index
Telecom, 5% Insurance, 6%
Since Inception
-5.7% -7.4% -7.4%
-10.2% -13% -13.4%
-30% -42% -42%
Alpha
12.5%
Fund Performance MEFIC Local Equity Fund return since inception against TASI 5% 0% 0%
1% 0%
-5% 0%
-1%
-10%
-3% -7%
-4% -7%
-7%
-7%
-19% -19% -23% -24%
-20% -25%
-27%
-22% -26%
-27%
-26%
-23%
-23% -24%
-30%
Transportati on, 3%
3M
Fund Performance
-15%
Fund Allocation
1M
-29% -29%
-35%
-21%
-24% -30% -40%
-40%
-38% -38%
-23%
-25% -30%
-30% -36%
-35%
-33%
-35%
-30% -35%
-36%
-33%
-38%
-42% -37% -42% 9/25/2016
8/26/2016
S&P Shariah Index
-35% 7/27/2016
6/27/2016
5/28/2016
4/28/2016
MEFIC Local Equity Fund
-22%
-27%
3/29/2016
2/28/2016
1/29/2016
12/30/2015
11/30/2015
TASI
10/31/2015
10/1/2015
9/1/2015
8/2/2015
7/3/2015
Retail , 19%
-40%
-45% 6/3/2015
Petrochemic als, 10% Banks, 5%
Cash & Other Funds, 38%
5/4/2015
Agriculture & Food, 12%
-28%
-23%
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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