“These fees can reach up to 3 percent of the total amount, and are usually collected by the fund manager or distributor upon initiation of the subscription,” an official from Derayah Financial explained Sunday.
This offer will become effective from July 1, and will last for the whole month. During this period, new investors will be exempted from the subscription fees on all mutual funds available through Derayah’s website. More than 85 mutual funds with asset volume of more than SR 40 billion.
“Through this free subscription promotion, Derayah aims at supporting the individual investors and enhancing their ability to make their own investment decision transparently and neutrally,” Mohammed El-Kewaiz, Derayah’s managing director said in a statement issued Sunday. He added that this free subscription service will also save about 3 percent of the investors’ money allocated to the fund which the investor can direct to his current investments.
