Based in Jeddah, Saudi Arabia, SEDCO Capital, an investment firm recognized for its adherence to Shariah principles and commitment to Environmental, Social, and Governance (ESG) standards, has recently announced an extension for its SC Multi Asset Traded Fund (referred to as “the Fund”) subscription period, which will now conclude on June 27, 2024.
The subscription window for the Fund was initially opened on May 19, 2024, with an offering price set at SAR 10 per unit and the minimum subscription value at SAR 100. The entities authorized to receive subscriptions include Alinma Bank, Al Rajhi Bank, Arab National Bank, Banque Saudi Fransi, Riyad Bank, Saudi National Bank, and Aljazira Capital. Banque Saudi Fransi is the custodian for the Fund, while Aljazira Capital has been appointed as the lead manager.
The Fund, which complies with Shariah law, aims to deliver long-term capital growth and biannual income distribution. It plans to invest in a myriad of local and international assets, both in private and public sectors, with an expected annual total return of up to 10% for committed long-term investors, based on historical market performance. SEDCO Capital’s expertise spans Fixed Income, Public Equities, and Private Equity investments globally and domestically.
Asset allocation targets within the Fund are set at 80% for liquid assets and 20% for illiquid assets. The liquid portion emphasizes a 60% investment in local and international equities and a 40% investment in income assets such as money markets and sukuk. Illiquid assets will predominantly cover global private equity investments. The Fund’s benchmark index is a composite of 60% DJIMT Index, 20% DJ Sukuk TR Index, and 20% 30d MVA of 1m SIBID.
Eligible investors for the SC Multi Asset Traded Fund include:
- Saudi nationals and Gulf Cooperation Council country citizens.
- Residents of Saudi Arabia with a resident identity.
- Institutions, companies, funds, and legal entities within Saudi Arabia and the GCC.
- Qualified Foreign Financial Institutions as per the CMA’s Listed Securities Investment Rules.
- Other investors sanctioned by the CMA to own listed equities on the Exchange.
Additional details about the Fund are available on the firm’s website.
About SEDCO Capital
SEDCO Capital is a prominent Shariah-compliant and ESG-led investment advisory and asset management firm, boasting over $8 billion in assets under management. The firm’s investment strategy is built on principles, partnership, and performance. Through its Prudent Ethical Investment approach, SEDCO Capital offers a diverse range of investment solutions, delivering robust risk-adjusted returns while maintaining a staunch commitment to Shariah and Responsible Investment principles. As a pioneer in the field, SEDCO Capital was the first Saudi firm and the first Shariah-compliant asset manager globally to become a signatory of the UN Principles of Responsible Investment (UNPRI). With its headquarters in Jeddah, the firm operates additional offices in Riyadh, Dubai, London, and Luxembourg. SEDCO Capital operates under the license from the Capital Market Authority (License No. 11157-37).
