Alkhabeer Capital, a major asset management and investment firm in Saudi Arabia, has announced the launch of Alkhabeer IPO Fund.

The Alkhabeer IPO Fund is a Shariah-compliant, open-ended investment fund targeting IPOs and newly listed companies in Saudi Arabia during their first three years on the market. The fund may also invest part of its assets in the same at other GCC capital markets.

Commenting on the new investment fund, Ahmed Saud Ghouth, deputy CEO of Alkhabeer Capital, said: “The Alkhabeer IPO fund is an extension of our commitment to providing our clients a wide range of innovative investment products to meet their portfolio diversification objectives. The fund is a strategic addition to our existing lineup of products.”

Ghouth added: “Year-on-year, we have reported tremendous increases in assets under management and have carefully assessed the IPO performance of securities in the GCC, which have seen improvements in the money raised over 2015. Our experienced team of investment managers covering the Saudi and GCC markets are well prepared to fully optimize and adapt with the region’s IPO pipeline.”