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Riyad Sharia Opportunities Fund


Riyad Sharia Opportunities Fund is a public open-ended equity fund aims to provide medium to long-term capital growth.
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Overview

  • Launch Date:  24-October -2023
  • Fund Classification:  Local - Shari’a compliant
  • Sector Focus: Diversified
  • Risk Level: High
  • Fund Currency: Saudi Riyals (SAR)
  • Valuation/Dealing Days: Mondays and Thursday
  • Settlement In: 3 Business Days

Objectives:

A public open-ended equity fund aims to provide medium to long-term capital growth by investing its assets mainly in Saudi equities. including IPOs in the Main Saudi stock market (Tadawul), the Parallel Market (Nomu). and the Gulf markets within the criteria set by the Riyad Capital Sharia Committee.

Investment Strategy & Investment Universe:

The Fund Manager will follow freestyle active management strategy that enables the fund manager to take advantages of investment opportunities mainly in the Saudi markets. To achieve its goals, the fund can also invest in a wide variety of instruments to enhance its returns, for example: GCC Equities, IPOs, traded write issues, ETFs, REITs, Private Equities of pre-listing companies, Fixed Income, Financial Derivatives & Money Market.

Minimum Subscription, Additional Subscription and Redemption limits:

Minimum subscription: 5000 SAR

Minimum additional subscription or redemption: 1,000 SAR

Fees and charges:

Subscription fee: up to 1% of the subscription value

Management fee: 2% annually of the fund’s total assets (net of fund’s fees & expenses)

 

Past performance is not a guarantee of future returns. The value of units, the income from them, the prices and currencies of the funds, can go down as well as up. Investors may get back less than he or she originally invested. Additionally, fees shall apply on the fund. Changes in currency rates may have an adverse effect on the value, price or income of the security. To ensure proper understanding of the fund and its suitability for you according to your risk tolerance, we recommend that you seek a specialized investment advisor. More information about the fund is available in the Terms and Conditions applicable to that fund and must be read carefully before investing. While reading the fund’s Terms and Conditions, please refer to the principal risks of investing in the Fund.
 

Riyad Sharia Opportunities Fund

Voting Policy

Shareholders in public companies typically have voting rights associated with their stock holdings. These voting rights allow shareholders (including institutions such as Riyad Capital on behalf of all mutual funds and portfolios it manages) to vote at annual and special company meetings.

The typical agenda for each company meeting will include more than one proposal, such as Election of directors, Dividend payout, Capital adjustment, or approval of a Merger or Acquisition. Proposals are most commonly put forth by the company's management, but may be submitted by a shareholder as well. The company's management may provide a voting recommendation for each proposal, and each proposal is evaluated separately by Riyad Capital relative to our proxy voting guidelines.

Voting Policy Guidelines

(I) Auditors

We generally vote in favor of the proposed auditor, as long as it is one of the reputed auditors.

(II)Extraordinary Business Combination Transactions

Votes on mergers and or acquisitions and corporate restructuring proposals are considered on a case-by case basis, taking into account the following:

  • Anticipated financial and operational benefits
  • Offer price (cost v. premium)
  • Prospects of the resulting company

(III) Election of Directors

As a matter of policy, Riyad Capital will not participate in voting for any board member nominees relating to a company in which RC funds are investing, unless in cases where RC has no doubt that such participation is clearly required to protect the interest of the underlying company and /or the funds shareholders.

(IV) Dividend Payout & Capital Adjustment

Votes on Dividend payout & Capital adjustment are considered on a case-by-case basis, taking into account the financial position and strategy of the company, the sector it operates in and the current and prospective market environment.
 

How to apply

 

You can apply through one of the following:

 
  • Through Riyad Capital Online
  • By contacting Riyad Capital via phone and applying through the Interactive Voice Response (IVR)
  • By visiting the nearest Riyad Capital Center and applying through one of the Customer Service representatives


Sunday, 14 January 2024
Announcement by the Riyad Capital the availability of the quarterly statement of Riyad Sharia Opportunities Fund for the period ending on 31/12/2023

The Riyad Capital announces that the quarterly statement of The Riyad Sharia Opportunities Fund for the period ending on 31/12/2023 A copy of the quarterly statement can be retrieved in Riyad Capital website in the following link:
https://www.riyadcapital.com/ar/asset-management/public-funds/
 
 

Wednesday, 27 December 2023
Announcement by Riyad Capital regarding the details of non-fundamental changes to Riyad Sharia Opportunities Fund

Riyad Capital announces the approval of the Fund’s Board of Directors of a non-fundamental change to Riyad Sharia Opportunities Fund, such changes will become effective on (29/06/1445 H.), corresponding to (11/01/2024 G.).

The details of the non-fundamental changes are as follows:
  • Appointing a zakat and tax advisor for the fund and adding the related information;
  • Adding regulatory disclosures related to Zakat;  
  • Adding the zakat and tax advisor’s expenses to the schedule of fees and expenses;
  • Reconstitution of the Fund’s Board of Directors
 
 
Wednesday, 27 December 2023
Announcement by Riyad Capital regarding an update of the terms and conditions of Riyad Sharia Opportunities Fund

Riyad Capital announces an update of the terms and conditions of Riyad Sharia Opportunities Fund, as of (29/06/1445 H.), corresponding to (11/01/2024 G.).

A summary of the main updated items are as follows: 
  • Appointing a zakat and tax advisor for the fund and adding the related information;
  • Adding regulatory disclosures related to Zakat;  
  • Adding the zakat and tax advisor’s expenses to the schedule of fees and expenses;
  • Reconstitution of the Fund’s Board of Directors
 
The updated terms and conditions can be found in the attached file. Click here
 


Monday, 11 December 2023

Announcement by Riyad Capital regarding a change of the membership of the Board of Directors of Riyad Sharia Opportunities Fund

Riyad Capital announces a change in the membership of the Board of Directors of Riyad Sharia Opportunities Fund due to resignation of board member (Mr. Abdulrahman Al-Mashal) (membership status: Dependent), from (07/04/1445 H.), corresponding to (22/10/2023 G.), and appointment of board member (Mrs./ Amal Alahmad), (membership status: Dependent), and appointment of board member (Mr./ Abdullah Alshubaily), (membership status: Independent), from (09/04/1445 H.), corresponding to (24/10/2023 G.). The formation of the Board of Directors, after the change, shall be:
 
  1. (Mr./ Raed Albarakati), (membership status: Dependent)
  2. (Mr./ Abdullah AlFaris), (membership status: Dependent)
  3. (Mrs./ Amal Alahmad), (membership status: Dependent)
  4. (Mr./ Abdullah Alshubaily), (membership status: Independent)
  5. (Mr./ Faisal AlMekanzi), (membership status: Independent)
  6. (Mr./ Sattam Al Suwailem), (membership status: Independent)
 




29/11/2023
Announcement by (Riyad Capital) regarding the wrong pricing of the units of the Riyad Sharia Opportunities Fund


Riyad Capital Company announces a wrong pricing of units of Riyad Sharia Opportunities Fund, during of the period (1day on 23/11/2023), The following is the total assets and the unit price after correction:
- Total Assets (117,325,396.31) SAR
- Unit price (10.54404) SAR
- Percentage of error in the unit price (4.81) %
- Date of wrong pricing announcements (26/11/2023) Corresponding to (12/05/1445 H)


All affected unitholders will be compensated (including former unitholders) for all pricing errors without delay. Should you need further clarification,
Please contact us by (phone number 920012299 / email ask@riyadcapital.com)
 

 





24 -October-2023 
Announcement by Riyad Capital regarding the results of the initial public offer of Riyad Opportunities Sharia Fund


Riyad Capital announces the results of initial public offer of Riyad Opportunities Sharia Fund as follows:
 
  • The date of the end of the offering: 23/10/2023
  • The collected amount: SR 101,171,195.29
  • Date of fund operation: 24/10/2023
 

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