alternatives under one roof, has announced a promotion that cancels all subscription fees of more than 85 mutual funds for the whole month of July. These fees can reach up to 3% of the total amount, and are usually collected by the fund manager or distributor upon initiation of the subscription.
This offer will become effective on the beginning of July and will last for the whole month. During this period, new investors will be exempted from the subscription fees on all mutual funds available through Derayah's website, more than 85 mutual funds with asset volume of more than 40 billion SAR.
Through this free subscription promotion, Derayah aims at supporting the individual investors and enhancing their ability to make their own investment decision transparently and neutrally. This free subscription service will also save about 3% of the investors' money allocated to the fund which the investor can direct to his current investments.
On this occasion, Mohammed El-Kewaiz, Derayah's managing director, said that the introduction of this free service expresses Derayah's desire to offer all available investment alternatives from different providers to the individual investor, and to help him save the one-time subscription fees and utilize them in building diversified portfolios from all available mutual funds in Derayah's website, which are more than 85 funds.
El-Kewaiz stressed that the subscription fees differ according to the investment class of the fund. For instance, Money and Murabaha funds usually impose less fee due to their low returns. These subscription fees are imposed only once and are collected by the fund manager or distributor when subscribing to the fund. The fees are deducted from the total amount invested in the fund. These fees can go up to 3% of the subscribed amount and will not appear as investment; only the net sum after deducting the subscriptions fees will appear.
He continued, "During this limited time offer, investors will be exempted from the subscription fees of all mutual funds offered through Derayah's one-stop website. This website is unique in that it enables the investors to have access to the largest number of investment products, together with all the information they need to make enlightened investment decisions neutrally and transparently.
El-Kewaiz added, "At Derayah, we always strive to meet the requirements of the larger section of the individual investors. We are also keen on exploring new ways to support individual investors, and to offer them new and value added services. With this new offer, we look forward to enhance our position as the first independent company in the Middle East to offer all investment alternatives under one roof. Now the individual investor can use Derayah's one-stop website to freely subscribe to more than 85 mutual funds from different banks and investment companies. Derayah also gives the investor the freedom to specify the amount he or she wishes to invest. The investor can choose to invest as low as 500 SAR only".
El-Kewaiz stated that this free subscription service emphasizes the fact that Derayah takes the side of the individual investor. He also stressed that Derayah does not manage any funds itself to avoid any bias or conflict of interest. Derayah offers all investment alternatives without bias to one fund over the other. We also provide all the information the investor needs in order to choose between these funds independently and transparently".
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