BSE Lists two NBK Mutual Funds

Wednesday, 28 May 2008

On Wednesday 28th May 2008, an agreement was signed between Bahrain Stock Exchange and National Bank of Kuwait S.A.K. to list two mutual funds issued by the bank, and they are NBK Gulf Equity Fund and NBK Qatar Equity Fund as of Thursday 29th of May 2008.


The NBK Gulf Equity Fund is an open-ended fund with a target size of US$500 million and a par value of US$1 per unit.  Its Net Asset Value per unit as on 30th April 2008 was US$1.529. The minimum investment in the fund is US$100,000.


The objective of the fund is to seek long-term capital appreciation by investing primarily in GCC equities.


Similarly, the NBK Qatar Equity Fund is an open-ended fund with a target size of US$500 million and a par value of US$1 per unit.  Its Net Asset Value per unit as on 30th April 2008 was US$1.558.   The minimum investment in the fund is US$100,000.


The objective of the fund is to seek long-term capital appreciation by investing primarily in Qatari-domiciled, listed equities.


With the listing of these two funds, the number of mutual funds listed in BSE reached 35.