Rasmala launches new equity fund
Riyadh, July 28, 2009
Rasmala Investments Saudi (RIS), a joint stock investment products company, has launched a new shariah-compliant fund, the Rasmala Saudi Equity Fund.
The new fund will predominantly invest directly in the shariah compliant securities listed on Tadawul. The fund is denominated in Saudi Riyal with a minimum subscription amount of SR50,000 ($13,350).
“We believe that the fundamentals of the Saudi economy will remain robust given the growth in spending by government entities,” said Hamad Al Huthaili, managing director of Rasmala Investments Saudi. “Further, the prospects for the Saudi financial market are attractive in the medium term and beyond.”
“The recent price adjustments in the Saudi Stock market have helped to create a valuable opportunity for long term investors” added Muhammad Shabbir, head of asset management of Rasmala Investments Saudi. – TradeArabia News Service