Mashreq Al Islami Income Fund
Fund Details
| Investment Objective | The investment objective of the Fund is to provide Shareholders with Shariah compliant fixed returns. The Fund will only invest in Shariah compliant fixed income securities approved by the Shariah Supervisory Board. The Fund’s return objective will be to achieve annual net returns above the market return as represented by a generally accepted index (e.g. JP Morgan Middle East Sukuk Index) over the life of the Fund |
| Distribution (Class “D” Shares) | Annual distribution target of 5% |
| Benchmark | J.P. Morgan MECI Sukuk Index (Bloomberg Ticker JCADSUTR Index) effective January 2018 |
| Fund and Investment Manager | Mashreq Capital (DIFC) Ltd. |
| Fund Type | Shariah Compliant open ended Fund. |
| Domicile | DIFC, Dubai |
| Regulator of Fund Manager | Dubai Financial Services Authority (DFSA) |
| Currency | USD |
| Minimum Subscription | The minimum initial subscription and holding amount is:
|
| Administrator and Registrar | Apex Fund Services (Dubai) Ltd. |
| Custodian | Deutsche Bank |
| Valuation | Each Business Day |
| Subscription and Redemption | Each Business Day |
| Notice Periods | 2 business days |
| Subscription Fee* | Up to 2.0% in respect of Class “B” and “C” Shares
Up to 5.0% in respect of Class “D” and “D AED” Shares |
| Redemption Fee* | No fee |
| Distribution Fee* | 0.5% p.a. in respect of Class “D” and “D AED” Shares |
| Management Fee* | 0.75% p.a.in respect of Class “B” Shares
0.70% p.a. in respect of Class “C” Shares 1.00% p.a. in respect of Class “D” and “D AED” Shares |
| Performance Fee* | No performance fee will be payable |
| Bloomberg Ticker | BADISIN in respect of Class “B” Shares
BADISIC in respect of Class “C” Shares BADISID in respect of Class “D” Income Shares BADISDI UH in respect of Class “D” Accumulation Shares BADIDUI UH in respect of Class “D” AED Income Shares BADISDA UH in respect of Class “D” AED Accumulation Shares |
| ISIN | AEDFXA1T6467 in respect of Class “B” Shares
AEDFXA1T6475 in respect of Class “C” Shares AEDFXA1T6483 in respect of Class “D” Income Shares AEDFXA1W2ZD7 in respect of Class “D” Accumulation Shares AEDFXA03C018 in respect of Class “D” AED Income Shares AEDFXA03C000 in respect of Class “D” AED Accumulation Shares |
| Zawya Code | MAKBIIF.IF |
| Lipper ID | 68121746 in respect of Class “B” Shares
68602684 in respect of Class “C” Shares 68200829 in respect of Class “D” Income Shares 68222182 in respect of Class “D” Accumulation Shares 68583733 in respect of Class “D” AED Income Shares 68583734 in respect of Class “D” AED Accumulation Shares |