Alkhabeer Capital changes benchmark for Alkhabeer Diversified Income Traded Fund

Logo of Alkhabeer Diversified Income Traded Fund

Alkhabeer Capital announced updating the terms and conditions of Alkhabeer Diversified Income Traded Fund as of May 16, 2023, according to a Tadawul statement.

The company noted that among the updated terms and conditions is changing the fund's current benchmark from the London Interbank Offered Rate (LIBOR) for a period of 12 months plus 300 basis points, to the Secured Overnight Financing Rate (Term SOFR) for a period of 12 months plus 300 basis points.