Al Rajhi MSCI Saudi Multi Factor Index Fund is a new open-ended fund aimed at achieving medium- to long-term capital growth by tracking performance of the MSCI’s Saudi Multi-Factor Index.
The MSCI’s Saudi Multi-Factor Index complies with Al Rajhi Capital’s Shariah board’s rules.
The vehicle was designed to have low-cost structure and provide investors easy access to the broader Saudi market.
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Fund Details |
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Fund name |
Al Rajhi MSCI Saudi Multi Factor Index Fund |
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Fund manager |
Al Rajhi Capital |
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Fund type |
Public, Open-ended |
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Qualified subscribers |
Any qualified natural or juridical person |
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Fund term |
Open term |
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Currency |
SAR |
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Risk |
High |
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Investment purpose |
A public open-ended fund that aims to achieve medium to long term capital growth by tracking the performance of the MSCI Saudi Multi-Factor Index, which is compliant with the fund’s Shariah Board |
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Unite price at the beginning of the issue |
SAR 10 |
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Minimum subscription limit* |
SAR 2,000 |
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Minimum additional subscription limit* |
SAR 1,000 |
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Minimum refund limit* |
SAR 1,000 |
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Minimum balance limit* |
SAR 2,000 |
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Subscription fees |
NA |
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Management fees |
1% of net fund’s assets annually |
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Dealing fees |
The fund pays commissions and trading fees resulting from transactions, purchases and sale of securities according to prevailing market commissions paid to brokers, financial markets and regulators |
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Other fees |
The fund will bear the necessary and actual expenses for its management, audit fees, custody fees, publishing fees, regulatory fees, board members 'remuneration, indicative index fees and other expenses. |
The below is an example of the fees’ calculation mechanism. The invested cash stands at SAR 100,000, and the fund’s size reaches around SAR 10 million, with an annual return of 10 percent.
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Total fund assets |
Fund’s fees & expenses (SAR) |
Investor’s fees & expenses (SAR) |
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Subscription fees |
NA |
- |
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Custody fees |
Charged to fund manager |
- |
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Independent board members’ remuneration |
Charged to fund manager |
- |
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Audit fees |
Charged to fund manager |
- |
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Regulatory fees |
Charged to fund manager |
- |
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Tadawul fees |
Charged to fund manager |
- |
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Indicative index fees |
Charged to fund manager |
- |
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Management fees |
100,000 |
1,000 |
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Total annual fees & expenses* |
100,000 |
1,000 |
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Assumed return 10%+ capital |
11,000,000 |
110,000 |
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Net assumed investment at fiscal year end |
10,900,000 |
109,000
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*All fees in the example are not VAT inclusive.
* The fund pays commissions and trading fees resulting from transactions, purchases and sale of securities according to prevailing market commissions paid directly to brokers, financial markets and regulators. These commissions and fees are disclosed in the fund’s annual financial statements.
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