Islamic Global Real Estate Securities Fund, NBK Unique and Unmatched Shariah Compliant Fund started investing Globally
Maroof: The Fund will provide NBK’s clients the opportunity to invest in global real estate securities in accordance with Islamic Shariah principles
National Bank of Kuwait successfully launched in April 2008 the first real estate securities fund of its kind targeting sophisticated investors in the region, the Islamic Global Real Estate Securities Fund. Since April 2008, the Fund started to deploy its capital by investing in real estate securities in Asia, Europe and the United States. The Fund will attempt to take advantage of the highly discounted prices in real estate securities that are currently trading in global markets.
NBK Capital’s Head of Wealth Management, Nabil Maroof, stated that the Fund was established to achieve long term capital growth through Islamic compliant real estate portfolios. The Fund will provide clients access to a diversified portfolio of global real estate securities that comply with Islamic Shariah principles. This unique offering will continue to boost NBK’s position as the leading financial institution that offers investment solutions in the local and regional markets. The Fund’s ability to access the real estate market in every region coupled with its monthly liquidity provides investors with the tool to achieve a truly globally diversified portfolio. The Fund is aligned with NBK’s commitment to provide innovative products and solidifies its position as an international player, as most international investment firms allocate a sizable portion of their assets in real estate securities.
Maroof added that the Fund caters for Private Banking as well as Thahabi clients, through the offer of two separate portfolios, Class A and Class B Portfolio. The two portfolios of the Fund will each invest in a diversified portfolio of real estate securities including real estate investment, development and operating companies, real estate investment trusts, and the securities of companies providing management and investment advisory services to real estate investment, development and operating companies.
The Fund is entirely compliant with the laws of the Islamic Shariah as approved by the independent Shariah board for Islamic funds marketed by NBK in Kuwait comprised of Sheikh Khalid Mathkor Al-Mathkor, Sheikh Essa Zaki Shakra, and Sheikh Abdul Aziz Khalifa Al-Qassar, stated Maroof.
The Fund is denominated in US Dollars with a minimum initial subscription of US$250,000 with multiples of US$10,000 for Class A and US$25,000 with multiples of US$1000 for Class B. The Fund is open-ended with monthly liquidity. For further information please contact your Relationship Manager.
