View Monthly India Fund Reports
The Fund Name:
It is called “India Fund”.
Kuwait Clearing Company
Investment of money in favor of whoever desires from Kuwait nationals, citizens of Gulf Cooperation Council Countries and foreigners, normal or corporate individuals in accordance with law in the business of selling and buying securities of companies expected to be listed on such stock exchanges according to the viewpoint of the Fund Manager in accordance with rules and condition stated in the Articles of Association and the Shar’iah controls approved by the Fund Shar’ia Control Authority.
The Fund capital is variable and its limits range between K.D. 5,000,000 (Kuwaiti Dinars five million only) allocated to five million units and 50,000,000 (Kuwaiti Dinars fifty million only) allocated to fifty million units.
Minimum and Maximum of Subscription by Subscribers in the Fund:
The underwritten units by any subscriber in the Fund may not be less than 1000 (one thousand) units for the first time and the maximum that can be possessed by any subscriber in the Fund is 50% (fifty percent) of the number of the Fund issued units.
Subscription in the Fund:
The citizens, citizens of Gulf Cooperation Council countries, foreigners, Kuwaiti and Gulf companies and establishments, foreign companies and establishment resident inside and outside the State of Kuwait.
Shari’ah Supervisory Board:
The Fund shall carry out its activities and functions in conformity within the previous of the glorious Islamic Shari’ah and rules and regulations stipulated by its Articles of Association. The Shari’ah Supervisory Board shall oversee the activities of Fund and shall have the right at all times to access all contracts and transactions pertinent to the Fund money management.
Open-ended investment fund
Trading in the Shariah compliant securities listed on stock exchanges of India as well as entering in public subscriptions of companies expected to be listed on such stock exchanges
|Subscription / Redemption
||The capital of the fund is variable and its limit ranges between KD 5 million to KD 50 million
||Open for subscription to all investors
||Al Madina For Finance & Investment Company
||UTI International Ltd
|Fund Custodian – Kuwait
Kuwait Clearing Company
|Fund Custodian – India
||Central Bank of Kuwait
|Net Asset Value
||Net Asset Value is calculated on a monthly basis
||10 calendar years