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  • Fund Details:
    Named India Fund

    Kuwait Clearing Company

    To invest the capital in favor of those who are interested of the Kuwaiti, GCC citizens and the expatriates as natural and juridical persons according to the law in the field of selling and buying securities of companies listed in the Indian Capital Markets; and also to enter into IPOs for the companies expected to be listed in these markets as deemed by the Fund's Manager, in accordance with the rules and conditions mentioned in the Articles of Association and the Islamic Sharia controls approved by the Fund's Sharia Audit.

    The Fund's capital is variable and ranging between KD5,000,000 (five millions Kuwaiti dinars) as minimum distributed on five million units and the amount of KD50,000,000 (fifty million Kuwaiti dinars) distributed on fifty million units.

    Minimum and Maximum Subscription:
    The number of subscribed units in which any of the fund's participants has participated may not be less than 1000 (one thousand units) and the maximum units that any participant in the fund may owns is 50% (fifty percent) of the number of fund's issued units.

    Kuwaiti citizens, GCC citizens, expatiates, Kuwaiti and GCC companies, establishments and foreign companies residing inside and outside the State of Kuwait shall have the right to subscribe in the fund.

    Sharia Committee:
    The Fund carries on its activities and functions that do not contradict with the provisions of the Islamic Sharia rules that provided for by its article of association. Raqaba for Islamic Financial Consultations oversees the activities of the Fund and has the right at all times to have access to all contracts and transactions related to the management of the Fund.

    Structure Open Ended Investment Fund
    Purpose Trading in listed securities in India Stock Markets that are complied with Sharia rules, as well as participating in IPOs expected to be listed in these markets.
    Date of Establishment 19th October 2005
    Currency Kuwaiti Dinar
    Subscription/Redemption Monthly
    Capital Variable from 5 million KD to 50 million KD.
    Investors Open to all
    Fund’s Manager Almadina for Finance and Investment
    Fund’s Advisor UTI International
    Fund’s Custodian – Kuwait Kuwait Clearing Company
    Fund’s Observer – Kuwait Kuwait Clearing Company
    Fund’s Custodian – India Deutsche Bank
    The regulator Capital Markets Authority
    Net Assets Value Monthly Evaluation
    Fund’s Period Ten years from the date of establishment

    Article of association

  • Performance:

    Current NAV 1.363 KD
    Previous NAV 1.417 KD
    Month Performance -3.8%
    Index Performance -6.5%

    Monthly report

  • Financial statement:

    Audited Financial Statement 2014


    Mr. Talal Alyousuf

    Non-Independent Board Member

    Mr. Emad Assaf

    Non-Independent Board Member

    Mr. Shereef Abdulrazeq

    Independent Board Member

    Mr. Talal Alenezi

    Independent Board Member