Makaseb Income Fund (MIF)
Net Asset Value Per Share
| Date | NAV | Value | Percentage
change | Since Inception Performance | Benchmark return |
30 June 2009 | MIF | 8.0999 | 0.16% | -19.00% | 2.45% |
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 | HSBC/NASDAQ Dubai Middle East Investment Grade US Dollar Sukuk/Bond Index |
| 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 (subject to it being a business day) |
| Subscription and Redemption | Each Wednesday (i.e. each dealing day) |
| Notice Periods | 2 business days |
| Subscription Fee | 2% |
| Redemption Fee | 1.5% 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 |