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Markaz Real Estate Fund Report - January 2017

Majed Salah
By Majed Salah
6 years ago
Markaz Real Estate Fund Report - January 2017


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  1. Fund Manager Report NAV per unit : KD 1.419 Markaz Real Estate Fund As of January 31, 2017 Objective: The objective of Markaz Real Estate Fund is to generate stable and recurring returns, in compliance with the Islamic Shari'ah, by investing in a portfolio of real estate properties within the state of Kuwait during the life of the fund. Performance Growth of Fund Total Return (Jan 03–Dec 03) 17.8% Total Return (Jan 03–Dec 05) 40.2% Total Return (Dec 05-Dec 08) 32.1% Total Return (Dec 08-Dec 11) 4.6% Total Return (Dec 11-Dec 14) Total Return (Jan 03–Dec 16) Capital Gain since Inception 21.1% 136.8% 42.0% Income Distribution since Inception 95.5% Total Return Annualized 7.9% Average Annual Yield (Cash) Volatility [3 year] 4.7% 4.1% Total Return 3.000 Cumulative Income Price NAV 2.500 2.000 1.500 1.000 0.500 Jan-17 Jan-16 Jan-15 Jan-14 Jan-13 Jan-12 Jan-11 Jan-10 Jan-09 Jan-08 Jan-07 Jan-06 Jan-05 Jan-04 Jan-03 KD.Fils 0.000 Annual Total Return % 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Gain 12.4 7.9 0.3 3.4 12.6 3.4 -9.9 0.1 1.5 2.7 5.1 6.5 -3.4 -4.4 Dividend 5.5 5.9 5.4 5.4 5.2 4.9 4.8 5.3 5.3 5.2 5.1 4.8 4.6 4.7 Total 18.2 14.1 5.9 9.1 18.2 8.4 -5.1 5.5 6.9 8.1 10.4 11.5 1.1 0.3 Key Facts Portfolio Composition Net Assets KD 78.948 Million NAV per unit KD 1.41866732 Type Open-ended Fund Inception January 2003 Fund Manager Kuwait Financial Centre K.P.S.C. Wafra Real Estate Co. Real Estate Asset Management (REAM) Property Managers External Shariah Auditor Shura Shariah Consultancy Company Management Fees 10% of net fund income Subscription Fees Subscription/Redemption 2% 20% of the net incentive income after achieving 8% annual return Monthly / Bi-annually Minimum Subscription 100 units Fund Valuation Monthly Assets Valuation Every Six Months Custodian Gulf Custody Company Auditor PricewaterhouseCoopers Al-Shatti & Co. Lipper code LP65038182 Incentive Fees Cash 11% Investment Properties Under Development 25% Investment 32% Industrial 6% Commercial 26% Portfolio statistics Occupancy Number of properties Number of Units Collection Rate 92.21% 22 721 107.67% Fund Executive Committee Members Manaf Alhajeri | Bassam Al-Othman | Milad Elia Disclaimer – This document has been prepared and issued by Kuwait Financial Centre K.P.S.C. (“Markaz”), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. This document is owned by Markaz and is privileged and proprietary and is subject to copyrights. This document cannot be quoted without the prior written consent of Markaz. This document is published for informational and promotional purposes only and it is not an invitation to subscribe to units of the fund. The market commentary included in this document was prepared based on the market news at the time of preparation. No relevant or necessary information relating to the fund have been omitted to be included in this document. The investment results and performance cannot be predicted and no representation or warranty, express or implied, is made. Nothing contained in this material should be relied upon as a promise or representation towards future results or events. For the avoidance of doubt, Past performance is not a reliable indicator of future performance. Before investing, prospective investors must carefully evaluate the appropriateness of the investments to determine whether they are appropriate for their investment. Investors should be aware that the investments are subject to decrease or increase in value, therefore at the time of redemption, investor may redeem amount less than that initially invested. Further, Investors should be aware that, wherever applicable, the fluctuation in foreign currency exchange rates may result in a negative effect on the value, price, or income of the Fund’s Units. In making an investment decision, the investors must rely on their own examination and analysis of this investment fund, including the merits and risks involved. The information in this document does not constitute tax advice. Investment in funds may not be suitable for all investors and prospective investors should consult their own professional advisors as to the suitability, legal, tax and economic consequences of an investment in a fund. At all times, prospective investors considering an investment in a fund should carefully review such fund’s Articles of Association which describes the investment objectives, operations, fees, expenses, risks of investing and reporting of the fund’s performance to the investors. The most recent Articles of Association are available on our website. Funds’ financial reports can be obtained upon request to the Fund Manager. For further information on this fund, including but not limited to investment objectives and policies, fees, expenses, risks and other matters of importance to prospective investors, please contact Markaz at +965 2224 8000 or e mail info@markaz.com. Fund Manager’s Address: Duaij Building, Mubarak Al-Kabeer St, Al Qiblah, Kuwait P.O. Box 23444, Safat 13095, State of Kuwait