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Takaful Endowment Fund

Asset Management

Supporting and sponsoring orphans and their mothers who are beneficiaries of Al Takaful Al Khayria Association for Orphans in Medina region by developing capital and achiving sustainable returns for the Association programs.

Objective

To encourage voluntary community participation in non-profit development investments and effective contribution under the concept of social solidarity, and participate in supporting the non-profit sector of charitable associations and non-profit organizations to achieve their goals and  benefit them in the long term. The Fund Manager's participation through investing in different asset classes with a diversified risk assets to achieve the developmental goal of the endowed capital, with the distribution of the endowment profits to the beneficiaries of the fund at no less than 50% of the net profits annually (from distributed profits and/or capital gains.
Terms & conditions  Interim Financial Statement  Zakat Collection on Mutual Funds Fund Brochure  Quarterly Statement Report 
Fund Type
Open Ended Public Multi Asset Waqf Fund
Fund Domicile
Saudi Arabia
Risk Level
High
Inception Date
initial public offering commenced on 28/04/1445H corresponding to 12/11/2023
Inception Price
SAR 1 Per Unit
Fund Currency
Saudi Riyals
Benchmark
The fund’s strategy does not track a benchmark but a composite index will be used to compare the performance, which includes:
  1. SAIBOR 3 months 60%
  2. S&P Saudi REIT Shariah Index 25%
  3. S&P Saudi Shariah Index 15%
Subscription Fee
No subscription fees will be implemented on the fund
Management Fee
0.40% annually of the fund’s net asset value or a performance fees of 10% of the total annual return of the fund before deducting fees and expenses at end of year, whichever is less.
Performance Fee
Nil
Minimum Subscription
SAR 1
Minimum Additional Subscription
SAR 1
Minimum Redemption
Not applicable
Valuation Frequency & Days
Daily - Sunday to Thursday
Redemption Days
Based on the nature of the Awqaf, the fund units cannot be redeemed or transferred.
Cut-Off Time & Day
Before 5 PM - Prior to the Valuation Day
Announcement
Following the Valuation Day
Fund Features
Fund Type Open Ended Public Multi Asset Waqf Fund
Fund Domicile Saudi Arabia
Risk Level High
Inception Date Initial public offering commenced on 28/04/1445H corresponding to 12/11/2023
Inception Price SAR 1 Per Unit
Fund Currency Saudi Riyals
Benchmark The fund’s strategy does not track a benchmark but a composite index will be used to compare the performance, which includes:
  1. SAIBOR 3 months 60%
  2. S&P Saudi REIT Shariah Index 25%
  3. S&P Saudi Shariah Index 15%
Subscription Fee No subscription fees will be implemented on the fund
Management Fee 0.40% annually of the fund’s net asset value or a performance fees of 10% of the total annual return of the fund before deducting fees and expenses at end of year, whichever is less.
Performance Fee Nil
Minimum Subscription SAR 1
Minimum Additional Subscription SAR 1
Minimum Redemption Not applicable
Valuation Frequency & Days Daily - Sunday to Thursday
Redemption Days Based on the nature of the Awqaf, the fund units cannot be redeemed or transferred.
Cut-Off Time & Day Daily - Sunday to Thursday Before 2:00 PM 
Announcement Following the Valuation Day
 

Headquartered in Riyadh, Al Rajhi Capital is a Limited Liability Company organized and existing under the laws and regulations of Saudi Arabia and operates under the Authorized Persons Regulations with license number 07068-37 granted by the Capital Market Authority and provides financial and investment related services.


Consideration must be given, that the previous performance is neither an indicator nor a guarantee for achieving returns in the future. Taking into account that investments in mutual fund are subjected to market fluctuations, and the value of units and their generated income may increase or decrease accordingly, resulting in partial or total loss. Also, the fees imposed on the funds such as subscription, performance and management fees may apply. Therefore, investors are advised to consider their personal and financial status and refer to professional experts in the field of investment and legal consultancy, prior to enrolling in any product or a particular fund. Al Rajhi Capital may invest in the fund or related securities. Al Rajhi Capital may have also provided within the previous 12 months signification advice or security business services to the issuer of the securities concerned or of a related security. The source of any indicative information concerning past performance is from Al Rajhi Capital, and such information can be confirmed by reviewing the respective factsheets made available on the company website (www.alrajhi-capital.com). The terms and conditions of every fund encompass detailed and specific information about the product and its risks. It is advisable to read and understand such information before entering into any agreement. Terms and conditions, factsheets and financial statements related to the fund can be obtained from the company website or any of our dedicated investment centres.


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