Jadwa Investment Company announced on Wednesday that it has updated the terms and conditions of Jadwa REIT Saudi Fund, according to a bourse filing.
The fund manager said the changes will take effect on Sept. 7, 2020, adding that the changes are as follows:
- Definitions list has been amended to include the following definitions: “Ordinary Fund Resolution” and “Special Fund Resolution” in compliance with the related rules and regulations.
- Investment Concentration Policy section has been amended to include investing in units of investment funds licensed by CMA that invests in the real estate sector and are managed by the fund manager or any other person licensed by CMA to expand the fund's investment universe and achieve better returns for investors.
- Risks of investing in the fund has been amended and “Force majeure risks and emergency conditions” has been added in line with the changes.
- Maximum subscription amount section has been amended in compliance with the related rules and regulations.
- Financial statements section has been amended in compliance with the Real Estate Investment Traded Funds instructions.
- Reporting to unitholders section has been amended in compliance with the Real Estate Investment Traded Funds instructions.
- Other information section has been amended and some parts were moved to other sections.
- Amendments to terms & conditions section has been amended in compliance with the Real Estate Investment Traded Funds instructions.
The new terms and conditions can be found on the fund’s website: https://reit.jadwa.com/Uploads/Attachments/Saudi_REIT_TCs_06082020.pdf
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