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SNB Capital Al Sunbullah USD

Money Market Funds

Essential Fund Resources

Fund Unit Price

0.42 MB

Semi Annual Report

0.79 MB

Terms & Conditions

0.59 MB

Funds Fact sheet

0.26 MB

Annual Report‎

7.55 MB

Disclosures

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SNB Capital Al Sunbullah USD

The Fund’s investment objective is to achieve liquidity and capital growth through investments in short term Money Market Instruments in SAR and/or USD that are compliant with Shariah provisions. The Fund will also invest in other similar CMA licensed public investment funds with similar objectives and risks that are compliant with Shariah provisions. The Fund may invest up to 20% of the Fund NAV in long-term investments such as sukuk and structured products denominated in SAR and/or USD.

Principal Investment Strategies

The Fund:

  • shall mainly invest in short term Money Market Instruments denominated in SAR and/or USD that are compliant with Shariah provisions;

  • may invest up to 20% of the Fund NAV in long-term investments such as sukuk and structured products (other than securitisation) denominated in SAR and/or USD that are compliant with Shariah provisions; and

  • may invest up to 10% of the Fund NAV in other CMA licensed public investment funds with similar risks that are compliant with Shariah provisions.

    The Fund’s strategy depends on the outlook of interest rates, which vary from time to time depending on the money market conditions. The Fund Manager shall study and analyse future interest rates through yield curve indicators, the impact of market predictions on the volatility of such rates as well as the daily monitoring and analysis of forecasts of the Fund’s daily liquidity needs. The Fund Manager shall rely on the rating of the international credit rating agencies such as Moody’s, Fitch and Standard & Poor’s as a general practice. Furthermore, the Fund:

  • shall not invest in institutions or fixed income instruments that fall below the investment grade of Baa3 according to Moody’s rating and BBB- according to Fitch and Standard & Poor’s ratings; however

  • may invest up to 20% in unrated institutions or fixed income instruments that are compliant with Shariah provisions provided that the Fund Manager uses its internal evaluation criteria for risk assessment of financial institutions and fixed income instruments.

    The standards to be adopted by the Fund Manager for selecting investment funds are based on risks, liquidity, and yield of investments in addition to compliance with Shariah provisions, as needed.

    The Fund’s investments shall not exceed 25% of its NAV in dealing with all third parties. The Fund Manager may invest the Fund’s assets in securities issued by the Fund Manager or any of its affiliates.

Key Details & Insights

Fund Currency
SAR
Risk Category
Low-Risk.
Benchmark
LIBOR for one month index.
Objective
The Fund’s investment objective is to achieve liquidity and capital growth through investments in short term Money Market Instruments in SAR and/or USD that are compliant with Shariah provisions. The Fund will also invest in other similar CMA licensed public investment funds with similar objectives and risks that are compliant with Shariah provisions. The Fund may invest up to 20% of the Fund NAV in long-term investments such as sukuk and structured products denominated in SAR and/or USD.
Minimum Subscription
USD 2,000.
Minimum Subsequent Subscription
USD 1,000.
Valuation Days
Business Days.
Dealing Days
Business Days.
Subscription Days
Business Days.
Subscription Request cut off time
12 p.m. on the Business Day preceding the relevant Dealing Day.
Subscription Fee
Not Applicable.
Management Fee
0.5% of NAV p.a.
Other expenses
These fees and expenses are not expected to exceed 0.5% of the NAV, and shall be calculated on each Valuation Day. This limit (i.e. 0.5% of the NAV) also covers fees and expenses payable by the Fund other than management, custody, dealing and borrowing fees and expenses.
Offer Date
November 1986.
Initial Unit Price
USD 10.

Principal Risks of Investing in the Fund

  • The Fund is suitable for an investor who seeks simple capital appreciation with relatively low risks. Given the nature of the Fund’s investments, the value of its investments and income are likely to be volatile and, as a result, the Unit price may rise or fall.

  • Past performance of the Fund or past performance of the Index is not an indicator of the future performance of the Fund.

  • There is no guarantee that the Fund’s absolute performance or its performance relative to the Index will repeat or match past performance.

  • Investment in the Fund is not equivalent to making a deposit with a bank.

  • Investors are hereby at risk that they may lose some or all of the money they invest in the Fund. Furthermore, Investor’s investments in the Fund shall not constitute guaranteed liabilities of the Fund Manager or any affiliate or subsidiary, but shall be subject to the investment risks. The Fund Manager shall not be liable for any claim(s) whatsoever, for any lost opportunity or any actual loss that may be incurred by the Investor, except in case of the wilful default or gross negligence of the Fund Manager, subject always to the risks set out in this Information Memorandum.

 

For more information on the Fund’s investment strategies please refer to the Terms & Conditions.

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SNB Capital is a Saudi Joint Stock Company with a paid up capital of SR1,000 million and is authorised by the Capital Market Authority of the Kingdom of Saudi Arabia with a license number 37-06046 granted by Capital Market Authority to carry out dealing, as principal and agent, and underwriting, managing, arranging, advising and custody, with respect to securities. SNB Capital Company, CR1010231474, the registered office is at King Saud Road, Regional Building P.O. Box 22216, 11495 Riyadh, Kingdom of Saudi Arabia. +966 11 874 7106

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