To provide short-term liquidity and income, whilst maintaining capital stability by investing in a diversified portfolio of Islamic money market instruments.
Islamic Money Market
13 November 2008
Investors who seek regular income* in a highly liquid investment; or
Investors who want diversification from Shariah-compliant equities asset class; or
Investors with a short-term investment horizon of 1 year and below.
This Fund is structured as an open-ended fund with a target allocation of at least 90% of the Fund’s NAV invested in Islamic money market instruments as well as sukuk/Islamic debentures and placements of Islamic deposits with financial institutions, all of which are highly liquid with maturity period less than 365 days. Up to 10% of the NAV of the Fund may be invested in sukuk/Islamic debentures which have a remaining maturity period of more than 365 days but less than 732 days.
The investment approach is to invest a majority of the assets in short term Islamic money market instruments with a focus on instruments that provide above-average yields compared to return from savings and investment accounts while providing liquidity by effectively balancing risk and return across the portfolio as a whole
At least 90% of the Fund’s NAV invested into sukuk/Islamic debentures, Islamic money market instruments and investment accounts with financial institutions that is not more than 365 days maturity;
Up to 10% of the Fund’s NAV invested in sukuk/Islamic debentures, Islamic money market instruments and investment accounts with financial institutions that is more than 365 days but fewer than 732 days maturity.
Minimum Initial Investment
Minimum Additional Investment
FEES & CHARGES
Sales Charge per Unit
Annual Management Fee
Up to 0.50% per annum of NAV
Trustee Fee / Custodian fee
Up to 0.02% per annum of NAV, (excluding foreign custodian fees and charges)
Unit Holders may switch Units of the Fund to other Funds managed by the Manager, and vice versa. The Manager does not impose any administrative fee for switching. However, since switching is treated as withdrawal from one Fund and an investment into another Fund, the Unit Holders will have to pay the difference (if any) between the Sales Charge of these two Funds.