Samba Launched 2 investment Funds in GCC Equities
Samba launched recently 2 investment funds in GCC Equities: "Al-Musahem GCC Fund" and "Al Raed GCC Fund".
Samba aims at generating high long term earnings to investors and minimizing associated risks as much as possible based on the industrial and geographic distribution of the GCC markets and their attractive investment opportunities.
Mr. Eisa Al-Eisa, Samba Managing Director and CEO, commented on the event "the launching of the funds at this time comes in line with the flourishing economical situations of the GCC markets reflecting positively on the region's stock markets. Both funds will enable investors avail of such booming markets and take the best advantage from the anticipated growth as well. These funds will enable investors diversify their portfolios and distribute the high risks characterize equity markets."
"Al-Musahem GCC Fund" is an open-end mutual fund denominated in Saudi Riyal, aims at generating long-term capital growth through investing predominately in different GCC equities. "Al Raed GCC Fund" is an open-end mutual fund denominated in Saudi Riyal, aims at generating long-term capital growth through investing in GCC companies listed in GCC stock markets and approved by Samba Shari'ah Supervisory Board.
GCC stock markets include Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, and Oman Markets. Samba started receiving and processing subscription applications as of Sunday 8 October 2006 at 10 Saudi Riyals per unit rate. The first valuation of the funds will be on Wednesday 11 October 2006. Minimum limit for subscription in either fund is SR 7500.