Fund Objectives:
Al Aman Islamic Fund aim at realizing reasonable levels of periodical and capital gains through investing its available fund in equities and units of other investment funds , whether listed or un listed in Kuwait stock exchange mainly or other financial markets in the GCC region , according to terms stated in the fund investment policy. The fund shall invest the surplus of the available funds in suitable financial instruments that are not for financing purposes. All investments shall be made in accordance to Islamic Sharia Standards as dictated by the Sharia Board.
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Al Aman Islamic Fund. |
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Fund Name |
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Al-Aman Investment Company K.S.C.C. |
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Fund Manager |
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Gulf Custody Company K.S.C.C. |
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Custodian |
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KPMG Safi Al-Mutawaa and Partners. |
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Fund Auditors |
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5-50 million Kuwaiti Dinars |
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Capital of the Fund |
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One Kuwaiti Dinar ( KD 1.000 ) |
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Unit Nominal Value |
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One Thousand Units ( 1000 ) |
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Minimum Placement Limit |
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No more than 50% of number of issued units. |
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Maximum Placement Limit |
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5 years to be automatically renewed into similar periods . |
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Fund Term |
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2% (20 fils) per unit subscribed. |
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Placement Fees |
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1% of net asset value. |
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Management Fees |
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205 over a 10% annual return. |
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Incentive Fees |
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Equities and units of other investment funds, whether listed or unlisted in the Kuwait Stock Exchange or other financial markets in the GCC region. |
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Target Investments |
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Dr. Abdulsattar Abu Ghodda – Dr. Essa Zaki - Dr. Abdulaziz Al-Qassar –Sheikh Nizam Yaqoubi. |
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Sharia Board |
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First exercise of subscription right start after the end of the first month of Fund's operation. Redemption right starts after the first six months of Fund's operation and can be exercised monthly after that. |
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Redemption & Subscription |
For further information please refer to the offering memorandum of Al Aman Islamic Fund or Contact the following numbers:
2245280 - 2245245 - 2245146