Al Darij Investment Fund

Overview

Al Darij Investment Fund is a Kuwaiti investment fund managed by the National Investments Company (NIC), focusing on Sharia-compliant equities in Kuwait and the Gulf Cooperation Council (GCC) region. The fund aims to provide capital appreciation and income through investments primarily in listed and unlisted equities that adhere to Islamic principles. Established in 2003, it is considered one of the oldest Sharia-compliant funds in the region. The fund has a diversified shareholder base, including both corporate and retail investors, and has consistently offered generous cash dividends to its unit holders. The fund's investment strategy emphasizes blue-chip companies with a history of strong operating performance. It employs a Fund of Funds approach, investing in a diversified portfolio across various asset classes, including private equity, real estate, and venture capital. The fund targets multiple stages of investment, including early stage, growth, and late stage, and focuses on sectors such as technology, healthcare, financial services, consumer goods, energy, telecommunications, real estate, industrial manufacturing, retail, media, education, transportation, utilities, agriculture, and construction. As of November 30, 2023, the fund reported a Net Asset Value (NAV) of KWD 0.378 per unit, with a year-to-date return of -6.32% and a since-inception return of 87.90%. The fund's benchmark is the NIC Kuwait Large & Mid Cap Shariah Index 10% Capped (Total Return), which covers large and mid-cap securities in the Kuwait equity market, with each constituent weight capped at 10%. The fund's management fee is 1% per annum, and it charges an incentive fee of 20% on the amount by which the annualized rate of return exceeds 10%. Dividends are distributed quarterly or annually, and the minimum investment is 1,000 units, with multiples of 1 unit. The base currency is Kuwaiti Dinar (KWD), and the fund is registered with the Kuwait Clearing Company. The fund's custodian and investment controller is the Kuwait International Trustee Company, and the external Sharia auditor is Osol for Sharia Advisory. The fund's auditors are Bothaina Hasan Ibrahim Alahmed-ALSOOR Certified Public Accountants. The benchmark is calculated and provided by S&P Dow Jones Indices, covering large and mid-cap securities in the Kuwait equity market, with each constituent weight capped at 10%. Please note that investments in the fund are subject to market risks, and there is no guarantee of returns or protection of the invested capital. Investment performance may be affected by market fluctuations, and past performance is not an indicator of or guarantee of future results. Therefore, potential investors should conduct their own research and studies and consult with their licensed financial advisors before making any investment decisions. It is also recommended to review the subscription prospectus and all fund documents to understand the associated risks, management methodology, and operational processes before proceeding with the investment.

Investment Focus

• Sharia-compliant investments
• Diversified portfolio across various asset classes
• Focus on blue-chip companies with strong operating performance
• Targeting multiple investment stages including early stage, growth, and late stage
• Investments in sectors such as technology, healthcare, financial services, consumer goods, energy, telecommunications, real estate, industrial manufacturing, retail, media, education, transportation, utilities, agriculture, and construction
• Subscription and redemption fee of 0.5%
• Management fee of 1% per annum
• Incentive fee of 20% on returns exceeding 10% per annum
• Dividends distributed quarterly or annually
• Base currency in Kuwaiti Dinar (KWD)
• Registered with the Kuwait Clearing Company
• Custodian and investment controller is the Kuwait International Trustee Company
• External Sharia auditor is Osol for Sharia Advisory
• Auditors are Bothaina Hasan Ibrahim Alahmed-ALSOOR Certified Public Accountants
• Benchmark is the NIC Kuwait Large & Mid Cap Shariah Index 10% Capped (Total Return) provided by S&P Dow Jones Indices
• Investments are subject to market risks with no guarantee of returns or protection of invested capital
• Potential investors should conduct their own research and consult with licensed financial advisors before making investment decisions
• Review of subscription prospectus and all fund documents is recommended to understand associated risks, management methodology, and operational processes before proceeding with the investment