SEDCO Capital Global Sukuk Public Feeder Fund

The Fund aims to invest all of its assets in the Master Fund, which in turn invests in a diversified portfolio of U.S. dollar-denominated sukuk.

Quoted from clause 3 (3)

The Fund may obtain any financing for its account provided that it does not exceed (15%) of the Fund’s Net Asset Value (NAV), and that the financing maturity period does not exceed one year, and after obtaining the approval of the Fund’s Board of Directors and the Fund’s Sharia Supervisory Committee, provided that the Fund does not intend to engage in any lending operations, and the financing amount depends on the financing terms and market conditions prevailing at the time.

Quoted from clause 3 (3)

The Fund may obtain any financing for its account provided that it does not exceed (15%) of the Fund’s Net Asset Value (NAV), and that the financing maturity period does not exceed one year, and after obtaining the approval of the Fund’s Board of Directors and the Fund’s Sharia Supervisory Committee, provided that the Fund does not intend to engage in any lending operations, and the financing amount depends on the financing terms and market conditions prevailing at the time.

Quoted from clause 3 (3)

The Fund may obtain any financing for its account provided that it does not exceed (15%) of the Fund’s Net Asset Value (NAV), and that the financing maturity period does not exceed one year, and after obtaining the approval of the Fund’s Board of Directors and the Fund’s Sharia Supervisory Committee, provided that the Fund does not intend to engage in any lending operations, and the financing amount depends on the financing terms and market conditions prevailing at the time.

Quoted from clause 3 (3)

The Fund’s currency is the Saudi Riyal only, and the Fund will not accept any funds in any currency other than the Saudi Riyal.

Quoted from clause 8 (3)

companies whose total conventional debt divided by the trailing 24-month average market capitalisation or total assets (whichever is the greater as the denominator) is greater than or equal to 33%

Quoted from clause 1 (7)

companies whose sum of cash and interest bearing securities divided by the trailing 24-month average market capitalisation or total assets (whichever is the greater as the denominator) is greater than or equal to 33%

Quoted from clause 2 (9)

companies whose accounts receivables divided by the trailing 24-month average market capitalisation or total assets (whichever is the greater as the denominator) is greater than or equal to 33%

Quoted from clause 3 (7)

companies whose amount of revenue generated from any of the following Non-Permissible Activities is exceeding 5% of its total revenue irrespective of the income being generated by undertaking a Non-Permissible activity.

Quoted from clause 4 (5)

No Fund may use conventional borrowing, leverage or hedging.

Quoted from clause 4 (5)

Any dividends received from companies Non-Permissible Activities or Preferred Shares must be purified according to SEDCO Capital’s purification process.

Quoted from clause 4 (5)

Existing companies whose conventional Leverage Ratio is more than (33%) for existing companies on a post money valuation basis and zero for companies yet to be formed

Quoted from clause 1 (8)

For companies yet to be formed and seeking interest-bearing debt;

Quoted from clause 2 (10)

Companies whose amount of revenue generated from any of the following Non-Permissible Activities exceed 5% of its total revenue irrespective of the income being generated by undertaking the non-permissible activity.

Quoted from clause 3 (8)

Companies whose total amount of interest-taking deposits, whether short, medium or long term, is exceeding (30%) of Equity Value (as defined in Clause 1 above), knowingly that interest-taking deposits are prohibited whatsoever the collective amount is unless it is Shariah compliant.

Quoted from clause 4 (6)

If at any time a Fund becomes a majority shareholder in or gains managerial control over a company which is not fully Shariah compliant, a clear Shariah approved plan must be adopted to transform the company into a fully Shariah compliant company.

Quoted from clause 4 (6)

Any incidental income from Non-Permissible Activities or Preferred Shares must be purified according to SEDCO Capital’s purification process.

Quoted from clause 4 (6)

Any and all interest income received by the Fund will be classified as prohibited income for purification purposes.

Quoted from clause 4 (6)