The agreement was signed by Fouad Rashid, Director of the Bourse and Najla Al Shirawi, Deputy Chief Executive Officer and Chief Operating Officer at SICO.
Fouad Rashid welcomed the listing of SICO Fixed Income Fund on the Bourse. “The Bourse will continue to attract and encourage the listing of mutual funds as well as other investment instruments, in order to provide more options for investors at Bahrain Bourse.”
Al Shirawi said she was pleased to see the listing of SICO the first fixed income fund that is managed by a Bahraini fund manager. “The fund will give investors a unique opportunity to benefit from the growing GCC and MENA Fixed Income and Sukuk universe,” she said.
The primary objective of the fund is to generate income and to seek capital appreciation over the medium and long-term by actively investing in Government and Corporate Fixed Income, Sukuk, Money Market Instruments and other Fixed Income related Instruments for hedging purposes.
The fund was issued in April 2013. The size of the fund is $9.9 million. Its par value is US$ 100.00 per unit while its Net Asset Value per unit as of 18 July 2013 was USD 97.39. The SICO Fixed Income Fund is an open-ended fund with a minimum investment of US$100,000.
With the listing of SICO Fixed Income Fund, the number of mutual funds listed from SICO at the Bourse became 7 funds, and in general, the number of mutual funds listed on BHB reached a total of 27 funds.