The
fund's main objective is to generate long-term capital growth through
investments in equities of Shariah compliant companies listed on the
Saudi Stock Exchange.
The Freestyle concept allows fund managers to
manage the fund on an active basis and invest in companies that show a
strong potential to outperform in the long-term.
The fund will not
be constrained by weights of companies or sectors in the benchmark and
will be invested in a concentrated portfolio of high conviction equity
picks in the Saudi equity market.
Osama Shaker, managing director and
head of Financial Markets at HSBC Saudi Arabia, said: "HSBC Saudi
Arabia has a long track record of managing equities in Saudi Arabia.
Given our strong track record in the Saudi equity market and our
capabilities in stock selection, this new fund is based on HSBC Saudi
Arabia's core strengths and offers investors a new approach to investing
in Saudi equities".
