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Boubyan Kuwait Real Estate Fund
Fund Objective
The Fund seeks to realize Shari’a compliant returns by investing in income generating properties in Kuwait. The Fund will endeavor to distribute to unit holders the net rental profits after each quarter in addition to any net profits from the sale of the fund’s assets.
Executive Committee
- Badria Hamad Al Humaidhi
- Hadi Oussama Salame
- Asok Kumar Ayinikkal
- Wael El Sayed
| Fund Facts | |
|---|---|
| Fund structure | Close ended – Private placement |
| Date of inception | 11 June 2014 |
| NAV at inception | 1.0000 |
| Currency | Kuwaiti Dinar |
| Minimum investment | KWD 100 thousand (and multiples of KWD 5 thousand thereafter) |
| Distributions | Quarterly |
| Capital | KWD 15.405 million |
| Fund term | 5 years that are extendable for two periods (1 year each) |
| Subscription fees | 2% |
| Management fees | Up to 1.5% of NAV per annum |
| Property revaluation dates | June & December |
| Fund domicile | Kuwait |
| Fund manager | Boubyan Capital Investment Company K.S.C.C. |
| Distributor | Boubyan Bank K.S.C. |
| Custodian & investment controller | Kuwait clearing company K.S.C.C. |
| Shari'a auditor | Legitimate Audit House Company K.S.C.C. |
| External auditor | Ernst & Young |
Fund Strategy
- Direct ownership in a sector diversified portfolio of Kuwaiti real estate
- Quarterly net profit distributions
- Potential gains upon sale of the properties at fund expiration
Disclaimer
Boubyan Kuwait Real Estate Fund is a private closed ended fund. This fact sheet is prepared and circulated to current investors in the Fund. This document is not an invitation to subscribe to units of any investment fund or program therein.
