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Shifa Health Endowment Fund - Non Redeemable

Endowment

Shifa health Endowment is a health endowment that meets the health and development needs inside and outside the city of Madinah. This endowment includes the coverage for health services, health awareness, establishing and developing of health facilities, contributing to providing advisory services, qualifying and hiring experts and specialists, and supporting developmental projects. 

The distribution of profits received from the Fund shall be spent on health services, including the treatment of needy patients, providing health services and health insurance.

Features

  • Shifa Health Endowment is a health endowment that meets the development and health needs inside and outside the city of Madinah.
  • The contribution in providing health services to those in need from individuals in society.
  • The participation in establishing and developing health facilities.
  • Giving hope to needy patients for life betterment and contributing to end their suffering. 
  • The participation in achieving sustainable health development objectives. 
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Objectives

  • To encourage voluntary community participation in non-profit developmental investment and effective contribution under the concept of social solidarity to participate in supporting Shifa Health Endowment across the Kingdom of Saudi Arabia to develop and invest its assets in the Fund in order to strengthen its value and grow its endowed capital, thereby benefiting the beneficiaries of the endowment, including the treatment of needy patients, providing health services and health insurance. The role of the Fund Manager is to invest the fund’s assets in a diversified portfolio across all asset classes to diversify risks, aiming to achieve the growth of the endowed capital, and, consequently, the endowed returns will be distributed to “Shifa Health Endowment” of no less than 70% of net profits annually.
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  • Terms & Conditions

  • Fund Brochure

  • Fact Sheet

  • Quarterly Statement Report

  • Interim Financial Statement

  • Annual Report

  • Financial Statement

Fund Details

Title
Description
Fund Domicile
Saudi Arabia
Inception Date
2023-04-15
Inception Price
1.000000000
Fund Currency
SAR
Benchmark
60% SAIBOR 3 Months + 25% S&P Saudi REITs Index + 15% S&P Saudi Equity Index
ISIN
066
Subscription Fee
SAR 0
Management Fee
0.40% annually of the fund’s net asset value
Minimum Subscription
SAR 1
Minimum Additional Subscription Fee
SAR 1
Minimum Redemption
SAR 0
Valuation Days
Sunday to Thuesday
Cut-Off Time
Before 5:00 PM in the dealing day
Announcement Day
Following the Dealing Day

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