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| Revising AlAhli Funds Terms and Conditions |
| 3/22/2009 |
10/3/1430 H
7/3/2009 G
Dear Esteemed NCB Capital Client,
In accordance with NCB Capital's commitment to comply with the Investment Funds Regulations issued by the Saudi Arabian Capital Market Authority (CMA) whose objective is to regulate procedures relating to the establishment and management of mutual funds along with all related activities, NCB Capital has revised the Terms and Conditions for all mutual funds to comply with such regulations.
Below is a summary of all the changes and updates that have affected all funds. Such modifications have been approved by the CMA and shall take effect after 60 days from the date of this letter and it will be applied to all existing and future fund dealings with NCB Capital's clients
- Terms and Conditions that have been modified to comply with the CMA's disclosure requirements:
1. The Capital Market Authority is the regulator of Mutual Funds
2. The governing regulations are the Investment Funds Regulations
3. The Fund Manager is NCB Capital Company
4. Valuation days of the assets of the Investment Fund (Equity Funds)
- Terms and Conditions that have included further disclosures to comply with CMA disclosure requirements:
1. Fund Manager's head office address
2. Fund's Terms and Conditions
3. Principal risks of investing in the Fund
4. Fees and expenses
5. Fund Auditor
6. Annual audited financial statements
7. Complaints procedures
8. Responsibilities
9. Fund's Shariah Board
- Additional Terms and Conditions to comply with CMA's disclosure requirements:
1. Fund facts
2. Definitions
3. Principal investment strategies
4. Dealing Costs
5. Fund Board
6. Characteristics of the units
7. Winding up and appointment of liquidator
8. Conflict of interest
9. Voting rights policies
10. Investment restrictions appendix
11. Shariah criteria appendix
12. Financial disclosure appendix
13. Past performance appendix
We should like to take this opportunity to emphasize that the above modifications are in response to the CMA regulations with the objective of protecting investors' best interest.
Below is a schedule indicating the names of funds that have been affected by these changes. Should you wish to receive the revised Terms and Conditions, please e-mail us at fund.support@ncbc.com stating your full name, national ID or Iqama, your account number and the name/s of the fund/s in which you are interested.
Best Regards,
NCB Capital Co.
Investment Services
Fund Name
1. AlAhli Diversified USD Trade
2. AlAhli Sadaqaat
3. AlAhli SR Murabaha
4. AlAhli Global Bond
5. AlManarah Conservative Growth
6. AlManarah Medium Growth
7. AlManarah High Growth
8. AlAhli Saudi Trading Equity
9. AlAhli Saudi Dynamic Trading Equity
10. AlAhli GCC Trading Equity
11. AlAhli Global Trading Equity
12. AlAhli Europe Trading Equity
13. AlAhli Saudi Riyal Trade
14. AlAhli International Trade
15. AlAhli Euro Murabahat
16. AlAhli National Investment
17. AlAhli Short Term Dollar
18. AlAhli Diversified SR Trade
19. AlAhli Asia Pacific Trading Equity
20. AlAhli US Trading Equity
21. AlAhli Emerging Markets Trading Equity
22. AlAhli Small Cap Trading Equity
23. AlAhli Healthcare Trading Equity
NCB Capital is authorized by the Capital Market Authority of the Kingdom of Saudi Arabia to carry out dealing, as principal and agent, and underwriting, managing, arranging, advising and custody, with respect to securities under license number 37-06046. NCB Capital's registered office is at 25th Floor, Al-Faisaliyah Tower, King Fahad Road, P.O. Box 22216, Riyadh 11495, Kingdom of Saudi Arabia.
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