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Yaqeen S&P ESG MENA ETF began trading on the Main Market (TASI) today, Feb. 19, under the symbol 9409 and ISIN Code SA162G54J0L6.
This fund is a public, open-ended exchange-traded fund (ETF) that complies with Shariah standards. It aims to replicate the MSCI Index performance through passive management of a basket of stocks.
In May 2024, Yaqeen Capital launched the initial public offering (IPO) of Yaqeen S&P ESG MENA ETF on TASI.
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Fund Profile |
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Fund |
Yaqeen S&P ESG MENA ETF |
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Manager & Operator |
Yaqeen Capital |
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Fund Type |
Shariah-complaint, open-ended, public ETF |
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Investment Goals |
Match index performance through passive stock management |
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Currency |
SAR |
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Unit Price |
SAR 10 |
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Number of Units Offered |
1 mln |
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Duration |
Open-ended |
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Benchmark |
S&P Pan Arab Composite ESG Shariah Capped Index (USD) |
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Subscription/Redemption Fees |
N/A |
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Management Fees |
0.5% of the fund's net asset value annually, paid quarterly to the fund manager as dues |
The fund intends to invest 95% of its net assets in Shariah-complaint stocks across markets in Bahrain, Egypt, Jordan, Oman, Qatar, Saudi Arabia, Tunisia, and the UAE, as part of the benchmark index portfolio.
It will retain up to 5% of its net assets in cash to cover operating expenses.
The fund aims to track the index's performance with a maximum annual deviation of 2%, considering factors like income and expenses. However, there is no guarantee that the fund manager will perfectly match the index’s performance.
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Investment Areas |
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Investment type |
Minimum |
Maximum |
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Shariah-compliant, MENA-listed equity |
95% |
100% |
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Cash |
-- |
5% |
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