Al-Fajer Islamic Fund Report - February 2018

Transcription

1. Fund Manager Report Al-Fajer Islamic Fund February 2018 NAV : 0.705 KD MTD: (0.01%) YTD: 2.12% Fund Objective The fund objective is to achieve competitive returns by investing in listed and unlisted companies in Kuwait, Gulf and Arab markets and invest excess cash in money market instruments, all investments are compliant with the Islamic Shari'ah principles. Fund Key Fact NAV (KD): 0.705 Per Unit Fund AUM: 29.59 Million KD Sectorial Allocation 0.00% 2.47% Inception: 20 Jun 2005 Manager: Wafra International Investment Co. MGT Fees: 1.5% per year. Strategy: Capital investing in local shariah compliant companies. 0.25% 0.00% 8.19% Oil & Gas Basic Materials 14.73% Industrials Consumer Goods 24.69% Health Care Consumer Services 0.97% Telecommunications Banks 0.01% Local Market (KSE) Focus: 31.82% Redemption: Monthly Custodian Gulf Custody Auditor Bedford Alabduljader & Partners Distributions: 5% Cash & 20% Bonus since inception. 2.42% Real Estate Financial Services Technology 14.70% Performance Cash and Equivalents Top 5 Holdings Description Return Symbol Ticker MTD (0.01%) 108 KFIN YTD 2.12% 605 Zain 3 Years (Trailing) 13.10% 603 AGLTY 5 Years (Trailing) 12.65% 413 MABANEE Since Inception (9.84%) 106 KIB Historical Performance Year Annual 2013 12.60% 2014 (8.20%) 2018 Monthly Jan Feb 2.13% (0.01%) Mar 2015 (8.53%) Apr May 2016 9.13% Jun Jul Return Fund vs Benchmark 2017 13.56% Aug Sep 2018 YTD 2.12% Oct Nov Dec Al-Fajer Fund 120% Period Fund S&P Islamic * MTD (0.01%) (0.48%) YTD 2.12% 3.43% 70% 20% (30%) * Confirmed as a benchmark on 1 Feb 2017 (80%) -February was a good month for Boursa Kuwait where the Price index closed up by 1.27% at 6,772.83 points compared to the closing of the month before, the Weighted Index increased by 0.49% after closing at 413.98 points, whereas the KSX-15 Index closed at 958.03 points increasing by 1.83%. -The Oil markets continued the down trend during February where the Brent went down by -6.31% closing at $64.60 compared with January closing at $68.95 taking the year to date performance to -3.01%.