 Money Market Funds
Equity Funds
Ijara Funds
Alternative Funds
Multi Asset Funds
|
|
|
|
|
|
|
|
|
|
|
|
|
FAQs | 3Q07 |
|
This Fund is closed for new Investors |
|
|
Fund Objective & Strategy:
The investment objective of the Fund is to seek current income and capital appreciation from a portfolio of investments in Asian real estate in accordance with Islamic Shari'ah principles. The Fund is a long-term investment vehicle designed to achieve an expected IRR of 14-16% per annum with an expected annualized net quarterly distribution of 4% growing to 8% by the end of the investment period and 8-9% thereafter.
The Fund will pursue its objective by investing in a diversified portfolio of high quality office buildings and residential real estate properties in exclusively first-class inner-city locations in Asian countries such as Korea, China, Hong Kong, Malaysia, Singapore, Japan and Thailand. The Fund will invest in the properties acquired by TMW Asia Fund in compliance with Islamic Shari'ah. |
Investment Features
- Well-diversified portfolio of Asian real estate investments
- US Dollar denominated
- Quarterly income distributions
- Managed by one of the largest real estate managers worldwide
|
|
|
Fund Facts
| Legal Structure: |
A close-ended fund (up to 12 months investment period) |
| Offering Period: |
April 25th – May 13th, 2004. |
| Offering Price: |
US$10,000 per unit. |
| Minimum Investment: |
US$500,000 with additional investments in multiples of US$10,000. |
| Liquidity: |
The Fund will be closed after the end of the offering period. After a 3-year lock-up period, semi-annual redemptions will be based on available liquidity in the Fund but cannot be guaranteed. |
| Term: |
6 years extendable for up to 3 additional years. |
| Placement Fee: |
A one-time fee of up to 2.25% upon subscription. |
| Management Fee: |
An annual fee of 1.75%. |
| Fund Distributor: |
National Bank of Kuwait S.A.K. |
| Fund Manager: |
Wafra Investment Advisory Group Inc., New York. |
| Fund Advisor: |
TMW Immobilien A.G. |
| Auditor: |
PriceWaterhouseCoopers L.L.P. |
| Reporting: |
Quarterly performance reports and annual audited financial statements. | |
|
|
|
| Risk Level |
 | |
|
|
|
|
|
|
|
|
|
