SEDCO Capital China Equities Feeder Fund

Master Fund 100% 100%

مقتبس من البند 3 (3)

Master Fund 100% 100%

مقتبس من البند 3 (3)

Investment will only be made in the Master Fund (SEDCO Capital China Equity Fund).

مقتبس من البند 3 (3)

As the Fund is an open-ended feeder public investment fund that is Shariah-compliant, all of the Fund’s investments will be in the Master Fund (SEDCO Capital China Equity Fund), which is Shariah-compliant and registered in Luxembourg..

مقتبس من البند 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.

مقتبس من البند 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.

مقتبس من البند 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.

مقتبس من البند 3 (3)

1. 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% (where: "total debt" = short-term debt + current portion of long- term debt + long-term debt; excluding preferred Shares were there is a financial preference);

مقتبس من البند 1 (7)

2. 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% (where “cash and interest bearing securities*” = cash in banks + short-term bank deposits + long term deposits + short-term saving certificates + investment in money market instruments + investment in non-compliant securities + investment in bonds + unidentified short-term investments + short- term notes receivable + long-term notes receivable); *Excluding Islamic deposits and Sukuk.

مقتبس من البند 2 (9)

3. 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%; or

مقتبس من البند 3 (7)

4. 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.

مقتبس من البند 4 (5)

No Fund may invest in or use any of the following instruments or any derivatives thereof: § futures; § options; § swaps; § preferred shares (where there is financial preference); § short sales; or § other instruments where any of their components involve the payment or receipt of interest.

مقتبس من البند 4 (5)

C. Borrowing, Leverage and Hedging No Fund may use conventional borrowing, leverage or hedging.

مقتبس من البند 4 (5)

D. Purification of Non-Permissible Income SEDCO Capital China Equity Feeder Fund 38 Any dividends received from companies Non-Permissible Activities or Preferred Shares must be purified according to SEDCO Capital’s purification process.

مقتبس من البند 4 (5)

1. 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, where Leverage Ratio is calculated as per the formula below:

مقتبس من البند 1 (8)

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

مقتبس من البند 2 (10)

3. 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.

مقتبس من البند 3 (8)

4. 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.

مقتبس من البند 4 (6)

No Fund may invest in or use any of the following instruments or any derivatives of them: § futures; § options; § swaps; § preferred shares;( where there is financial preference); § short sales; or § other instruments where any of their components involve the payment or receipt of interest.

مقتبس من البند 4 (6)

C. Majority Shareholding or Managerial Control: SEDCO Capital China Equity Feeder Fund 39 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.

مقتبس من البند 4 (6)

D. Borrowing, Leverage and Hedging No Fund may use conventional borrowing, leverage or hedging.

مقتبس من البند 4 (6)

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

مقتبس من البند 4 (6)

The Fund Operator publishes on a daily basis a percentage of the Net Asset Value (NAV) of each Fund that represents prohibited income in respect of the relevant Fund.

مقتبس من البند 4 (6)

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

مقتبس من البند 4 (6)

The Shariah Advisors shall be responsible for approving the legal structure and documentation of the Fund and all individual Funds from the Shariah aspect, including in particular the Shariah investment criteria and standards, and shall issue a Shariah opinion to confirm this approval once they are satisfied with compliance with the requirements of the Shariah criteria and standards.

مقتبس من البند 4 (6)

The Shariah Controller monitors the transactions of each Fund and calculates the amount of prohibited income in respect of each Fund on a quarterly basis.

مقتبس من البند 4 (6)

The Shariah Auditor will be responsible for auditing the Shariah Controller’s mo

مقتبس من البند 4 (6)