Subscription to SEDCO Capital Multi-Asset Traded Fund units starts today

Logo of SEDCO Capital

Subscription to units of SEDCO Capital Multi-Asset Traded Fund’s start today, May 19, and will continue for 15 days until June 6.

The fund aims to raise SAR 1 billion by offering 100 million units at SAR 10 per each, while the minimum amount is SAR 300 million.

The fund seeks to allocate proportionally a minimum 5% or a maximum 70% of the total offering for institutional investors (if any).

If the offering is not covered by institutional investors, the remaining percentage will be allocated to individual subscribers through an allocation of a minimum of 100 units.

The remaining units will be allocated pro rate among all cash subscribers.

If the number of subscribers to the fund exceeds one million subscribers, the fund manager does not guarantee the minimum amount for each subscriber.

Fund Profile
Fund	SEDCO Capital Multi-Asset Traded ETF
Fund type	Shariah-complaint, close-ended, public ETF, main market listed.
Investment Goals	Providing investors with the opportunity to invest in multiple asset classes through capital development and long-term periodic income distribution by investing in a diversified portfolio of local and international private and public investments that are compatible with Shariah standards and controls.
Fund’s Currency	SAR
Target Capital	SAR 1 bln (Minimum Limit for Subscription: SAR 300 mln)
Total Number of Units Offered	100 mln (Minimum Limit for Subscription: 30 mln units)
Unit Price	SAR 10
Offering Start Date	May 19, 2024 until June 6
Offering Extension	10 business days
Trading Start	20 business days after the offering end
Surplus Return (if any)	10 business days after allocation announcement
Subscription Minimum	SAR 1000
Benchmark	A composite index that tracks certain weights, which are: 60% Dow Jones Islamic Market World Index (DJIMT) + 20% total return of the Dow Jones Sukuk Index (DJSUKTXR) + 20% - 30-day moving average.
Subscription/Redemption Fees	2% of cash subscription amount
Target Investors	-Natural persons who hold Saudi nationality and GCC citizens. -Natural persons residing in Saudi Arabia under a resident identity. -Institutions, companies, investment funds and other entities and legal persons in Saudi Arabia and the GCC countries. -Qualified foreign financial institutions. -Other investors allowed by CMA to own Tadawul listed shares.
Management Fee	The fund manager is entitled to a management fee of 1% of the net asset value annually in exchange for the fund’s services for all asset classes in which the fund will invest. This excludes private equity investment funds managed by the fund manager. Management fees are paid semi-annually.
Cash dividend	Cash dividends, their due date, and the payout date (if any) will be announced within 40 business days from the end of June and December of each calendar year. The fund distributes the returns within a period of 90 business days from the date of announcing the cash dividend payout.

Additional Information
Fund Manager	Saudi Economic and Development Securities Co.
Custodian	AlJazira Capital
Receiving Entities	AlJazira Capital, Al Rajhi Bank, SNB Capital, Riyad Bank, Banque Saudi Fransi

The fund focuses on investing in multiple asset classes and there will be no restrictions on exposure to a particular sector or geographic region.

Investment Areas
Investment type	Minimum	Maximum
International public stocks	0 %	40%
Local public stocks	0 %	20%
Debt instruments and international instruments	20%	50%
Debt instruments and local sukuks	0 %	30%
International investments in money market transactions and Murabaha transactions outside the Kingdom	0 %	30%
Local investments in money market transactions and Murabaha transactions in the Kingdom	20%	50%
International private property	0 %	20%
Local private property	0 %	20%

The fund indicated that the maximum investment limit in local and international private equity will not exceed more than 20% of the value of its assets.

The Fund may invest in funds that invest in all asset classes mentioned in the above table, including those managed by the Fund Manager (or any of his affiliates), provided that they do not exceed 25% of the net asset value of the Fund in accordance with the requirements of the Investment Funds Regulations.

The fund manager has the right to fully invest its assets in investment funds according to the investment percentage in each investment area as mentioned in the table above.

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