MEFIC IPO Fund â July 2016
MEFIC IPO Fund – July 2016 Fund Background
Performance Review At the end of 31st July 2016, TASI closed at 6303 level, a decrease of -3% MoM due to weak oil prices on the back of high inventories, rig count and fear of supply glut. Q2 earnings were announced during the month of July, which declined 8% on YoY basis but above consensus expectations. The trading volume was low due to post Ramadan Eid holidays.
19th
MEFIC Capital launched MEFIC IPO Fund on 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
The fund continues to outperform the market on since inception basis with an alpha of +65% . During YTD 2016, the fund participated in four IPOs namely: Al Andalus Property , Saudi German ,Yamamah Steel and Lazurde .
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 KPMG MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 90.7 MN 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 Petrochem icals, 5%
Insurance, 4%
3M
Since Inception
Fund
-2.2%
1.6%
24.8%
MEFIC S&P IPO index
-2.5%
-6.1%
-40.3%
TASI
-3.0%
-6.9%
-35.4%
Fund Performance 0.16
Information Ratio
Beta
0.62
Alpha
65.0%
Fund Performance MEFIC IPO Fund return since inception against TASI 60% 36% 34%
40%
22%
44% 46% 43% 30%
23% 22%
30% 32%
34% 25%
15% 13% 10% 8% 7% 3% 4% 2% 0% -1% 0%-3% -5% -9% -7% -7% -8% -9% 0% 11% 11% -15% 4% 3% -23% -24% -2% -3% -2% -27% -26% -30% -31% -7% -9% -20% -9% -12% -9% -7% -11% -40%-38%-37% -35% -34% -35% 20%
-27% -26% -28% -28%
-40% -60%
-32% -36% -36% -40% -39% -40% -44% -45% -43% 7/18/2016
6/18/2016
5/18/2016
MEFIC S&P IPO Index
4/18/2016
3/18/2016
2/18/2016
1/18/2016
12/18/2015
11/18/2015
10/18/2015
MEFIC IPO Fund
9/18/2015
8/18/2015
7/18/2015
5/18/2015
TASI
4/18/2015
3/18/2015
2/18/2015
1/18/2015
12/18/2014
11/18/2014
10/18/2014
9/18/2014
8/18/2014
7/18/2014
6/18/2014
5/18/2014
Retail , 27%
Cash & Other Funds, 49%
28% 25% 23% 26%
21% 23% 22% 20% 18%
6/18/2015
Agriculture & Food, 4% Transporta tion, 10%
Hotel & Tourism, 1%
1M
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.
2
Performance Review At the end of 31st July 2016, TASI closed at 6303 level, a decrease of -3% MoM due to weak oil prices on the back of high inventories, rig count and fear of supply glut. Q2 earnings were announced during the month of July, which declined 8% on YoY basis but above consensus expectations. The trading volume was low due to post Ramadan Eid holidays.
19th
MEFIC Capital launched MEFIC IPO Fund on 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
The fund continues to outperform the market on since inception basis with an alpha of +65% . During YTD 2016, the fund participated in four IPOs namely: Al Andalus Property , Saudi German ,Yamamah Steel and Lazurde .
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 KPMG MEFIC S&P IPO Index TADAWUL Monday & Thursday Tuesday & Sunday SAR 90.7 MN 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 Petrochem icals, 5%
Insurance, 4%
3M
Since Inception
Fund
-2.2%
1.6%
24.8%
MEFIC S&P IPO index
-2.5%
-6.1%
-40.3%
TASI
-3.0%
-6.9%
-35.4%
Fund Performance 0.16
Information Ratio
Beta
0.62
Alpha
65.0%
Fund Performance MEFIC IPO Fund return since inception against TASI 60% 36% 34%
40%
22%
44% 46% 43% 30%
23% 22%
30% 32%
34% 25%
15% 13% 10% 8% 7% 3% 4% 2% 0% -1% 0%-3% -5% -9% -7% -7% -8% -9% 0% 11% 11% -15% 4% 3% -23% -24% -2% -3% -2% -27% -26% -30% -31% -7% -9% -20% -9% -12% -9% -7% -11% -40%-38%-37% -35% -34% -35% 20%
-27% -26% -28% -28%
-40% -60%
-32% -36% -36% -40% -39% -40% -44% -45% -43% 7/18/2016
6/18/2016
5/18/2016
MEFIC S&P IPO Index
4/18/2016
3/18/2016
2/18/2016
1/18/2016
12/18/2015
11/18/2015
10/18/2015
MEFIC IPO Fund
9/18/2015
8/18/2015
7/18/2015
5/18/2015
TASI
4/18/2015
3/18/2015
2/18/2015
1/18/2015
12/18/2014
11/18/2014
10/18/2014
9/18/2014
8/18/2014
7/18/2014
6/18/2014
5/18/2014
Retail , 27%
Cash & Other Funds, 49%
28% 25% 23% 26%
21% 23% 22% 20% 18%
6/18/2015
Agriculture & Food, 4% Transporta tion, 10%
Hotel & Tourism, 1%
1M
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.
2
