InvestGB announces preliminary approval for the Al Bader KD Islamic GCC Equity Fund

InvestGB Receives Preliminary Approval to Launch Al Bader KD Islamic GCC Equity Fund

ByIFD

Gulf Capital Investment Company K.S.C.C. (InvestGB), the investment arm of Gulf Bank, has announced that it has received preliminary approval from Kuwait’s Capital Markets Authority to establish the Al Bader KD Islamic GCC Equity Fund.

According to the announcement, the Shariah-compliant investment fund will have variable capital ranging from KD 2 million to KD 500 million. The fund is designed to achieve long-term capital appreciation by investing primarily in Shariah-compliant equities listed on GCC stock exchanges, as well as companies expected to undertake initial public offerings (IPOs) within GCC markets.

InvestGB stated that the Al Bader KD Islamic GCC Equity Fund is the third fund launched since the company’s establishment two years ago, following the Lulwa Money Market Funds in Kuwaiti Dinars and US Dollars.

The fund will be available to individual and institutional investors in Kuwait, across the GCC, and internationally. It will offer weekly subscription and redemption opportunities, with a minimum initial subscription of KD 5,000 and additional investments accepted in increments of KD 100.

Abdulrahman Ahmad Al Khubaizi, Deputy General Manager of Wealth Management at Gulf Bank, said the launch expands the range of Shariah-compliant investment solutions available to clients while complementing the bank’s existing wealth management services.

Talal Jamal Al Khamis, Director of Equities and Fixed Income at InvestGB, said the fund is intended to provide investors with access to the long-term growth potential of GCC equity markets while adhering to Shariah principles. He added that the fund will use the S&P GCC Composite Shariah Large Midcap 5/10/40 Capped Index (KWD) as its benchmark and that all holdings will be screened and monitored by an independent specialised Shariah adviser.

According to InvestGB, investors can subscribe to the fund through Gulf Bank branches acting as the subscription agent or directly through InvestGB’s offices.

Source: InvestGB (Official Announcement)

Industry Impact (IFD Editorial Insight)

The launch of the Al Bader KD Islamic GCC Equity Fund reflects continued product development within the region’s Shariah-compliant investment sector. The introduction of new Islamic equity funds provides investors with additional access to GCC equity markets while broadening the range of professionally managed Shariah-compliant investment solutions.

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