Makaseb Income Fund (MIF)
Net Asset Value Per Share
| Date | NAV | Value | Percentage
change | Since Inception Performance | Benchmark return |
| 25 Nov 2008 | MIF | 8.2589 | -3.97% | -17.41% | 2.2% |
Fund Details
| Investment Objective | Seeks to provide current income while ensuring the stability of capital. The Fund’s secondary objective is to seek income growth over the long term. The Fund aims to achieve its objective by investing in a diversified portfolio of fixed and floating rate investments originating from countries in the GCC, MENA, South Asia and other emerging economies. |
| Benchmark | 3 month USD LIBOR |
| Investment Manager | Mashreqbank PSC |
| Fund Type | Open ended fund |
| Domicile | Bahrain |
| Currency | USD |
| Minimum Subscription | USD 10,000; any subsequent investments in multiples of USD 1000 |
| Regulator | Central Bank of Bahrain |
| Administrator and Custodian | HSBC Middle East |
| Registrar | Deloitte & Touche |
| Valuation | Each Tuesday |
| Subscription and Redemption | Each Wednesday (i.e. each dealing day) |
| Notice Periods | 2 business days |
| Subscription Fee | Has a sliding scale beginning from 2.5% for minimum investments up to USD 99,000. |
| Redemption Fee | 3 % if redeemed within 12 months |
| Management Fee | 1.25% p.a.* (*Management Fee redeuced from 1.25% p.a.to 0.75% p.a. effective August 01, 2007) |
| Performance Fee | Up to 10% of the return in excess of 1% over the benchmark during a calendar year paid to the investment manager annually in arrears. |
| Bloomberg Ticker | MAKAINC BI |
| WKN | A0J3RR |
| ISIN | BH000A0J3RR6 |
| Zawya Code | MAKINCM.MF |
| Lipper ID | 65038282 |
| Reuters ID | LP65038282 |