SFC launches new Saudi equity fund
Riyadh, January 19, 2014
Saudi Fransi Capital (SFC) has launched a new Saudi equity investment fund.
The fund has been launched to benefit from the good investment opportunities prevailing in the Saudi equity market, and to combine good growth potential and dividend, it said.
Saudi Fransi Equity Income Fund will seek to gain dividend no less than 5 per cent annually distributed twice a year, a statement said.
“Investment opportunities in the Saudi Financial Market is considered good, due to the low P/E ratio compared to the historical average, as well as market dividends relatively higher returns reaching 3.6 per cent during 2013,” it said.
SFC CEO Yasir bin Othman Al-Rumayyan said: “We are pleased to launch the Saudi Fransi Equity Income Fund, that aims to achieve an annual dividend yield at no less than 5 %, which makes a valuable addition to our investment funds. We are looking forward to satisfy our customers who are looking for annual cash returns.” - TradeArabia News Service