Tharawat Sukuk Fund is Tharawat’s first open-ended Sharia’a compliant investment product based in the Kingdom of Bahrain. It invests over 70% of its liquidity in government- issued Sukuk and in well-established firms in the GCC, Middle East, North Africa, and Southeast Asia (MENASA) region. The Fund operates under Tharawat, the Fund Manager, as well as Franklin Templeton, the Fund Advisor, and Gulf Custody Company, the Fund Administrator, Registrar, and Custodian.
“Despite all the unusual conditions experienced by the global and regional markets throughout the last four years, Tharawat announces the distribution of 4% profits out of the second half of 2012performance,” Arif Mohammad Al Alawi, Tharawat’s Chief Executive Officer (CEO), said.
“Such profits, which reached 5.06% in the second half of 2012, reflect the strong performances of both, Tharawat and the portfolio. This further reflects the sound strategy pursued by the portfolio to preserve capital and to generate high returns for investors by means of buying Sukuk on the primary and secondary capital markets,” he added.
“We have promised our investors who have expressed faith in our first investment product, and still, that we anticipate achieving higher profits in 2013, particularly that Tharawat Sukuk Fund returns, outperformed most of the competitors in the region,” Al Alawi added.
The Sukuk Fund targets high net worth individuals and corporate investors who seek higher yield investments than low and medium risk bank deposits. It is considered as a unique investment opportunity since Sukuk are highly efficient, fast-growing, and ideal for fixed income and secure assets.
“Tharawat Sukuk Fund pursues a conservative and effective risk management and investment policy as the Fund assets are carefully selected by international investment experts, and are adequately audited by the Sharia’a Supervisory Board. Furthermore, the effective management and the Fund specific investment policy limit the level of risks pertinent to the issue or the issuer; thus it is also an opportunity to gain a regular investment income, based upon Fund distributions”.
“The Fund is regarded unique in comparison to other investment funds in terms of the many core features that include full compliance with Islamic Sharia’a, and simple exit rules on monthly basis without any charges or concealed terms. Additionally, the Fund offers investors the option to either receive distributions in cash, reinvest the returns in additional units of the Fund, or a mix of both.”
“Although the primary geographical parameters of the Fund include Sukuk of governments and major firms in the GCC, Middle East and North Africa, and Southeast Asia regions; Sukuk of governments, sovereign funds, and reputable corporates constitute approximately 95% of the total investments portfolio while around 50% of the Sukuk are rated between BBB and AAA.”