The Kingdom of Saudi Arabia-based Islamic investment and advisory firm, Alkhabeer Capital plans to raise $266.6 million in funds through the launch of its new subscription.
Alkhabeer Capital, told the media, “The fund aims to issue a maximum value of 1 billion riyals to provide investors with the opportunity to generate periodic income through investing in income-generating assets, diversified across asset classes, sectors and geographies. Investors can subscribe to the Alkhabeer diversified income traded fund for a 15-day period, from December 6, 2020 to December 24, 2020. Alkhabeer Diversified Income Traded Fund” aims to issue a maximum value of SAR One billion, to provide investors with the opportunity to generate periodic income through investing in income-generating assets, diversified across asset classes, sectors and geographies.”
The first of its kind in the Kingdom, investors can maximise their investment portfolio through activities, such as sukuks, trade finance, income funds, Murabaha and income generating assets. The firm has received approval for the new fund in September from the Capital Market Authority (CMA).
Furthermore, the commencement for the subscription for the Alkhabeer diversified income traded fund is corresponding to 21 Rabi Al-Akhar 1442 and the closing date is corresponding to 9 Jumada Al-Awwal 1442.
The Alkhabeer Diversified Income Traded Fund will be listed on Tadawul, the Kingdom’s stock exchange and has been approved by the Capital Market Authority (CMA). Alkhabeer Capital carries out activities such as investment services, alternative services and asset management related services.