Alkhabeer Growth and Income Fund Terms and conditions Updated

Alkhabeer Capital announces a non-essential update of the terms and conditions of Alkhabeer Growth and Income Traded Fund as of 12 December 2023.

In a statement to Tadawul, the company announced that the most prominent updated items are:

1) Fund Summary:

The following items were added in order to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection:

– ZATCA Registration Expenses.

– Zakat.

2) Main Risks of Investing in the Fund:

– (Zakat and Income Tax Risks) item has been updated to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection.

– The name of the ZATCA Authority has been updated to (Zakat, Tax and Customs Authority) in the Risk of Withholding Tax

3) Service Charges and Fees:

All items of the (Service Charges and Fees) paragraph have been updated to be consistent with the following updates:

– ZATCA Registration Expenses have been added.

– Updating the calculation of hypothetical examples that illustrate all fees, and custom components All tax included and excluded items plus acknowledgments for payment based on fiscal year.

– The item of (Zakat and Tax) has been added in order to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection.

4) Fund Manager:

The following items have been updated:

– The data of the Fund Manager’s Paid-Up Capital.

– The data of Summary of the Fund Manager’s financial information by mentioning the company’s revenues and profits for previous financial year.

5) Fund Board

The following items have been updated:

– The data of the Fund’s BOD paragraphs.

– ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST BETWEEN ANY BOARD MEMBER AND THE FUND.

6) Appendix (1) – Summary Financial Disclosure:

The following items were added in order to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection:

– ZATCA Registration Expenses.

– Zakat.