The Lulwa USD 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 USD Money Market Fund According to Islamic Sharia Principles
Overview
Investment Features
Fund Facts
Asset Class
Money Market Fund
Fund Name
Lulwa USD Money Market Fund According to Islamic Sharia Principles
Fund Structure
Open-ended
Minimum Investment
USD 3,000 and in increments of USD 10 thereafter
Liquidity
Weekly
Inception Date
–
Fund Size
Minimum USD 7 million, maximum USD 1 billion
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
Kuwait Clearing Company KCC
Investment Controller’s Fee
0.05% of the Fund’s Net Asset Value until USD 15 million0.035% of the Fund’s Net Asset Value for the amount above USD15 million until USD40 million0.02% of the Fund’s Net Asset Value for any amount above USD40 million
Fees of the Custodian
0.05% of the Fund’s Net Asset Value until USD15 million0.035% of the Fund’s Net Asset Value for the amount above USD15 million until USD40 million0.02% of the Fund’s Net Asset Value for any amount above USD40 million
Auditor
BDO- Al Nisf and Partners
Fund Regulator
Capital Markets Authority
Domicile of the Fund
Kuwait
Fund Manager Contact
22085482, fundadmin@investgb.com
Fund Manager Address
AlHamra Tower, Kuwait City Block 8, AlShuhada Street 37th Floor, Offices B
