IMSF Q1 2016 Factsheet.xlsx - Itqan Capital
Fact sheet - 31 March 2016
NAV per unit SAR 10.9339
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
Management Fee
0.25% annually of NAV
Admin & Unit Processing fee
0.15% annually of NAV
Other Fees
0.10% annually of NAV
External Auditor
Ernst & Young
Bloomberg Ticker
ALDLIQS AB
Morningstar SecID
F00000PW83
Reuters Code
LP65135696
Zawya Code
TFGADLS.IF
Fund Manager Commentary Itqan Murabahat and Sukuk Fund continued to strongly outperform its mandated benchmark and comparable peers in Q1 2016, achieving an annualized return of 2.21% for the period. This adds to the Fund's stellar run in Q1 2016 and raises the Fund's total return since inception and accumulative alpha to 9.34% and 4.72%, respectively. International fixed income markets had rather witnessed a roller coaster ride across the 1Q 2016. The two hot issues that remained in the limelight were the European Central Bank decided to lower the interest rate while the American Federal Reserve does not increases the interest rate this is along the concerns on the slowdown of the global economy that affected different sectors in the market, but as the time progressed took the driving seat for not only the emerging markets but eventually the developed markets as well. In GCC market plunging oil prices added another dimension to the issue. Due to the above reasons the fixed income markets in the region generally remained under pressure during the quarter owing to increasing interest rate risk in the early days while the concerns shifted
Fund Performance
to the increasing credit risk in the later part. With these shifts, the government and the high quality papers that 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! As a result, the Fund achieved a strong quarterly performance in spite of the higher market volatility and sell-off. Going forward, the Fund Manager will maintain an active asset allocation approach to maintain its performance as the top performing money market fund in the Saudi market.
Benchmark
Alpha < 1 m; 11%
1- 3 m; 15%
8.00%
3- 6 m; 7%
1 yr.+; 61%
9m-1 yr.; 6%
4.00%
0.65%
0.25%
2012
0.82%
0.76%
2013
0.83%
0.78%
2014
1.78%
0.82%
2015
2.31%
0.72%
0.55%
0.42%
Since Inception
9.34%
4.72%
Accumulative Alpha
4.62%
Fund Objectives 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%
2.00%
MURABAHAT 35%
0.00%
SAR 39% USD 52%
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 Mar-16
Fund Ranking: No. # 1 in KSA (as per Tadawul) -2.00%
2011
Asset Allocation
10.00%
6.00%
Benchmark
1 Q 2016
Performance - Since August 2008 IMS Fund
Fund
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
BHD 9%
www.itqancapital.com A member of Al Baraka Banking Group
NAV per unit SAR 10.9339
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
Management Fee
0.25% annually of NAV
Admin & Unit Processing fee
0.15% annually of NAV
Other Fees
0.10% annually of NAV
External Auditor
Ernst & Young
Bloomberg Ticker
ALDLIQS AB
Morningstar SecID
F00000PW83
Reuters Code
LP65135696
Zawya Code
TFGADLS.IF
Fund Manager Commentary Itqan Murabahat and Sukuk Fund continued to strongly outperform its mandated benchmark and comparable peers in Q1 2016, achieving an annualized return of 2.21% for the period. This adds to the Fund's stellar run in Q1 2016 and raises the Fund's total return since inception and accumulative alpha to 9.34% and 4.72%, respectively. International fixed income markets had rather witnessed a roller coaster ride across the 1Q 2016. The two hot issues that remained in the limelight were the European Central Bank decided to lower the interest rate while the American Federal Reserve does not increases the interest rate this is along the concerns on the slowdown of the global economy that affected different sectors in the market, but as the time progressed took the driving seat for not only the emerging markets but eventually the developed markets as well. In GCC market plunging oil prices added another dimension to the issue. Due to the above reasons the fixed income markets in the region generally remained under pressure during the quarter owing to increasing interest rate risk in the early days while the concerns shifted
Fund Performance
to the increasing credit risk in the later part. With these shifts, the government and the high quality papers that 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! As a result, the Fund achieved a strong quarterly performance in spite of the higher market volatility and sell-off. Going forward, the Fund Manager will maintain an active asset allocation approach to maintain its performance as the top performing money market fund in the Saudi market.
Benchmark
Alpha < 1 m; 11%
1- 3 m; 15%
8.00%
3- 6 m; 7%
1 yr.+; 61%
9m-1 yr.; 6%
4.00%
0.65%
0.25%
2012
0.82%
0.76%
2013
0.83%
0.78%
2014
1.78%
0.82%
2015
2.31%
0.72%
0.55%
0.42%
Since Inception
9.34%
4.72%
Accumulative Alpha
4.62%
Fund Objectives 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%
2.00%
MURABAHAT 35%
0.00%
SAR 39% USD 52%
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 Mar-16
Fund Ranking: No. # 1 in KSA (as per Tadawul) -2.00%
2011
Asset Allocation
10.00%
6.00%
Benchmark
1 Q 2016
Performance - Since August 2008 IMS Fund
Fund
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
BHD 9%
www.itqancapital.com A member of Al Baraka Banking Group
