Al Dawli Invest Islamic KD Money Market Fund Launches with Competitive Returns

Strategic Insights -

Al Dawli Invest Investment Company K.S.C. (Closed) has introduced the Al Dawli Invest Islamic KD Money Market Fund, a Sharia-compliant open-ended fund, aiming to provide competitive returns through investments in high-liquidity money market instruments. The fund, denominated in Kuwaiti Dinar, was incorporated on March 13, 2025, and is set for a 10-year term with a renewal option. The fund's primary objective is to maximize yield while prioritizing capital preservation, focusing on investments in term deposits held with local banks and Sharia-compliant money market funds.

Key Takeaways:

  • The Al Dawli Invest Islamic KD Money Market Fund is a Sharia-compliant open-ended fund established by Al Dawli Invest Investment Company K.S.C. (Closed) on March 13, 2025.
  • The fund aims to provide competitive returns through investments in high-liquidity money market instruments, with a primary objective of maximizing yield while preserving capital.
  • The fund's net asset value stands at 6.53 million Kuwaiti Dinars, with a net asset value per unit of 1.0139328 Kuwaiti Dinars.
  • Investors can make an initial subscription of at least 1,000 Kuwaiti Dinars, with subsequent investments in multiples of 10 Kuwaiti Dinars.
  • There are no fees for subscriptions, redemptions, or early redemptions, and the fund allows for weekly subscriptions and redemptions.
  • The largest components of the fund include Wakalah Deposits with Kuwait International Bank, ranging from 98 to 367 days, representing a significant portion of the fund's net asset value.
  • The fund has reported a monthly return classified as a Minor move, a Moderate move for the last quarter, and a Big move for the year-to-date return and the return since inception.
  • The fund's service providers include Abdultatif Osman Al-Aiban for external audit, Kuwait Clearing Company K.S.C. (Closed) as the custodian and investment controller, and Al Mashora & Al Rayah for Shariah Consulting as the external Sharia auditor.
  • Investors can contact the fund's liaison officer via telephone or email for further information, with details available on the fund manager's website.

Statistics:

  • The fund's capital stands at 6,435,348 units.
  • The fund's net asset value is 6.53 million Kuwaiti Dinars.
  • The net asset value per unit is 1.0139328 Kuwaiti Dinars.
  • The largest component of the fund is the Wakalah Deposit with Kuwait International Bank, ranging from 98 to 367 days.
  • The fund has reported a Minor move for the monthly return, a Moderate move for the last quarter, and a Big move for the year-to-date return and the return since inception.

Sources:

  • Boursa Kuwait
  • Al Dawli Invest Investment Company K.S.C. (Closed)
  • Abdultatif Osman Al-Aiban - Grant Thornton - At Qatami, Al Alban & Partners as the external auditor
  • Kuwait Clearing Company K.S.C. (Closed) as the custodian and investment controller
  • Al Mashora & Al Rayah for Shariah Consulting as the external Sharia auditor