The launch reaffirms Sambacapital’s status as a market leader offering innovative investment products that meet the investment needs of its customers.
The fund, described as the first of its kind in the local market, will distribute a cash dividend of up to 2.5 percent every six months or around 5 percent per year, suggestive of the expected positive investment returns of the fund’s performance.
Sambacapital defined the minimum subscription amount for the Al Ataa fund, which will only invest in fundamentally strong Shariah compliant Saudi listed companies, at SR 5,000.
The fund will target all groups and segments including individuals, citizens or residents, as well as institutions, companies and government bodies, as outlined in the fund’s terms and conditions.
Sambacapital defined a 45-day subscription period for the fund from June 4 till July 18.
Eisa M. Al-Eisa, chairman of Sambacapital, pointed out that the launch of the Al Ataa Investment Fund adds to Sambacapital’s range of innovative investment products aimed at growing investors’ savings and responding to their investment needs by targeting value added sectors.
Sambacapital has a proven track record in this area, which gives it the ability to achieve optimal, long-term investment fund performance and the capability to seize attractive investment opportunities.
“We have finalized all formalities for launching the fund, including obtaining regulatory approvals from the Capital Market Authority and adopting a working mechanism from the Shariah Supervisory Board,” added Al Eisa.
He explained that the fund aims to grow assets in both medium and long terms.
“The fund’s performance will be evaluated twice a week to ensure steady growth rates of its assets and investments,” he said.
He said the fund’s management team will be keen on directing the fund’s investments to attractive stocks in a bid to achieve returns consistent with the aspirations of the investors.
Sambacapital provides a full range of world-class investment products and services, which are considered among the best investment solutions in the market for individuals, private and public corporations and organizations.
Its services include asset management, brokerage, corporate finance and investment-banking services carefully crafted to give achieve best execution and customer satisfaction.
Furthermore, Sambacapital has recently been awarded the accolade of Best Investment Bank in the Middle East in 2011 for the sixth consecutive year by the renowned Global Finance magazine.
