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Health Awqaf Fund

Asset Management

Discover the opportunity to achieve community solidarity through the Health Awqaf Fund and contribute to the Awqaf to enhance the developmental role of the Health Awqaf Association in supporting the establishment of health Awqaf entities and projects that contribute to the health stability of community members.

The Health Awqaf Association was established with License No. 1968 dated 10/24/2020 based on Ministerial Resolution No. 73739 dated 06/11/1437 H and is subject to administrative supervision by the Ministry of Human Resources and Social Development and technically by the General Authority for Awqaf. The Health Awqaf was honored by the honorary presidency of HRH Prince Saud bin Naif Al Saud, Governor of Eastern Region.

Fund Features

Health Awqaf Association, is the first Awqaf Association specialized in establishing health Awqaf to offer community services in the field of Health across the Kingdom.

  • Contribute to the awareness of the importance of the health Awqaf and its impact.
  • Be part of the developing and growing health amenities.
  • Help spreading of community health services.

Objective

Strengthening the developmental role of Awqaf in supporting the establishment of Awqaf health entities and projects by investing the Fund’s assets to protect it from extinction and to encourage participation of community members in non-profit investments and to effectively contribute to achieving the principle of social solidarity for the benefit of the Awqaf, endowed assets and the stability of community members’ health.

The role of the fund manager is to invest the fund’s assets in a diversified portfolio across all asset classes to diversify risks in a manner that achieves growth of the endowed capital with a distribution of no less than 65% of the net profits annually to the Health Awqaf Association, its activities and health Awqaf projects in all Its forms, types, studies and research related to health endowments.

Terms & conditions  Zakat Collection on Mutual Funds Interim financial statements  Financial Statement  Fund Brochure Quarterly Statement Report 
Fund Type
Open Ended Public Multi Asset Waqf Fund
Fund Domicile
Saudi Arabia
Risk Level
High
Inception Date
initial public offering commenced on 24/11/1443H corresponding to 26/06/2022
Inception Price
SAR 1 Per Unit
Fund Currency
Saudi Riyals
Benchmark
The fund’s strategy does not track a benchmark but a composite index will be used to compare the performance, which includes:
  1. SAIBOR 3 months 60%
  2. S&P Saudi REIT Shariah Index 25%
  3. S&P Saudi Shariah Index 15%
Subscription Fee
No subscription fees will be implemented on the fund
Management Fee
0.40% annually of the fund’s net asset value or a performance fees of 10% of the total annual return of the fund before deducting fees and expenses at end of year, whichever is less.
Performance Fee
Nil
Minimum Subscription
SAR 1
Minimum Additional Subscription
SAR 1
Minimum Redemption
Not applicable
Valuation Frequency & Days
Daily - Sunday to Thursday
Redemption Days
Based on the nature of the Awqaf, the fund units cannot be redeemed or transferred.
Cut-Off Time & Day
Before 5 PM - Prior to the Valuation Day
Announcement
Following the Valuation Day
Fund Features
Fund Type Open Ended Public Multi Asset Waqf Fund
Fund Domicile Saudi Arabia
Risk Level High
Inception Date Initial public offering commenced on 24/11/1443H corresponding to 26/06/2022
Inception Price SAR 1 Per Unit
Fund Currency Saudi Riyals
Benchmark The fund’s strategy does not track a benchmark but a composite index will be used to compare the performance, which includes:
  1. SAIBOR 3 months 60%
  2. S&P Saudi REIT Shariah Index 25%
  3. S&P Saudi Shariah Index 15%
Subscription Fee No subscription fees will be implemented on the fund
Management Fee 0.40% annually of the fund’s net asset value or a performance fees of 10% of the total annual return of the fund before deducting fees and expenses at end of year, whichever is less.
Performance Fee Nil
Minimum Subscription SAR 1
Minimum Additional Subscription SAR 1
Minimum Redemption Not applicable
Valuation Frequency & Days Daily - Sunday to Thursday
Redemption Days Based on the nature of the Awqaf, the fund units cannot be redeemed or transferred.
Cut-Off Time & Day Daily - Sunday to Thursday Before 2:00 PM
Announcement Following the Valuation Day
 

Headquartered in Riyadh, Al Rajhi Capital is a Limited Liability Company organized and existing under the laws and regulations of Saudi Arabia and operates under the Authorized Persons Regulations with license number 07068-37 granted by the Capital Market Authority and provides financial and investment related services.


Consideration must be given, that the previous performance is neither an indicator nor a guarantee for achieving returns in the future. Taking into account that investments in mutual fund are subjected to market fluctuations, and the value of units and their generated income may increase or decrease accordingly, resulting in partial or total loss. Also, the fees imposed on the funds such as subscription, performance and management fees may apply. Therefore, investors are advised to consider their personal and financial status and refer to professional experts in the field of investment and legal consultancy, prior to enrolling in any product or a particular fund. Al Rajhi Capital may invest in the fund or related securities. Al Rajhi Capital may have also provided within the previous 12 months signification advice or security business services to the issuer of the securities concerned or of a related security. The source of any indicative information concerning past performance is from Al Rajhi Capital, and such information can be confirmed by reviewing the respective factsheets made available on the company website (www.alrajhi-capital.com). The terms and conditions of every fund encompass detailed and specific information about the product and its risks. It is advisable to read and understand such information before entering into any agreement. Terms and conditions, factsheets and financial statements related to the fund can be obtained from the company website or any of our dedicated investment centres.


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