Invest GB receives preliminary approval to establish the Al-Badr Islamic Gulf Equity Fund

In a move reflecting its ability to diversify its investment products, Gulf Capital Investment K.P.S.C. (“Invest GP”), the investment arm of Gulf Bank, announced it has received preliminary approval from the Capital Markets Authority to establish the Al Badr Islamic Gulf Stocks Fund, an investment fund compliant with Islamic Shariah principles, with a variable capital ranging from a minimum of 2 million Kuwaiti dinars to a maximum of 500 million Kuwaiti dinars.

The Al Badr Islamic Gulf Stocks Fund is the third fund launched by “Invest GP” since its establishment two years ago, following the significant success of the Al Luluah Kuwaiti Dinars and US Dollars Money Market Funds. The new fund aims to grow investors’ capital by investing in leading listed or prospectively listed companies on the stock markets of the Gulf Cooperation Council (GCC) countries.

The Al Badr Islamic Gulf Stocks Fund is a general, open-ended fund available to individual and institutional investors, both Kuwaiti and foreign, operating within or outside Kuwait. It offers weekly liquidity for subscriptions and redemptions, providing investors with flexibility in managing their investments. The minimum subscription amount is 5,000 Kuwaiti dinars, with the ability to increase investments in increments of 100 dinars.

On this occasion, Abdulrahman Al-Khabizi, Deputy General Manager of Private Banking – Wealth Management at Gulf Bank, said: “We are pleased that Gulf Bank has been appointed as the underwriting agent for the Al Badr Islamic Gulf Stocks Fund. This launch is a continuation of our ongoing efforts to expand the range of Shariah-compliant investment solutions available to our clients, complementing our existing wealth management services and enhancing our ability to meet the diverse investment needs of our clients.”

For his part, Talal Al-Khamis, Head of Equities and Fixed Income at “Invest GP,” said: “The launch of the Al Badr Islamic Gulf Stocks Fund reflects our commitment to diversifying our investment products and achieving long-term capital growth for our clients.” He noted that the fund uses the “S&P GCC Composite Shariah Large Mid 5/10/40 Capped Index (KWD)” benchmark to track the fund manager’s performance against the index, while all fund investments are subject to review by a Shariah-compliant stock list issued by a specialized Shariah board.