The Lulwa KD Money Market Fund is a Sharia Compliant fund that offers individual and institutional clients an attractive and low-risk investment opportunity to help them better utilize their excess cash and potentially achieve higher returns than fixed deposits.
Lulwa KD Money Market Fund According to Islamic Sharia Principles
Overview
Investment Features
Fund Facts
Asset Class
Money Market Fund
Fund Name
Lulwa KD Money Market Fund According to Islamic Sharia Principles
Fund Structure
Open-ended
Minimum Investment
KD 1,000 and in increments of KD 1 thereafter
Liquidity
Weekly
Inception Date
–
Fund Size
Minimum KD 2 million, maximum KD 500 Million
Fund tenor
15 years, renewable
Subscription/Redemption Deadline
Every Monday at 12 noon
NAV calculation
Every Tuesday
Management Fee
Up to 1%
Fund Manager
Gulf Capital Investment Company K.S.C.C.
Selling Agent
Gulf Bank K.S.C.P.
Custodian and Investment Controller
Gulf Custody Company
Investment Controller’s Fee
0.05% of the Fund’s Net Asset Value until KD15 million
0.035% of the Fund’s Net Asset Value for the amount above KD15 million until KD40 million
0.02% of the Fund’s Net Asset Value for any amount above KD40 million
Fees of the Custodian
0.05% of the Fund’s Net Asset Value until KD15 million
0.035% of the Fund’s Net Asset Value for the amount above KD15 million until KD40 million
0.02% of the Fund’s Net Asset Value for any amount above KD40 million
Auditor
BDO- Al Nisf and Partners
Fund Regulator
Capital Markets Authority
Domicile of the Fund
Kuwait
Fund Manager Contact
22085500, complaints@investgb.com
Fund Manager Address
AlHamra Tower, Kuwait City Block 8, AlShuhada Street 37th Floor, Offices B