HSBC Saudi Arabia has launched its new HSBC Amanah Sukuk Fund. The open-end Shariah compliant fund aims to provide investors with income stabilizing and potential growth over the medium-to-long term by investing in local and international sukuks.
The fund also invests in Shariah compliant money market funds, term deposits and certificates. The performance of the fund is measured against a composite benchmark, which includes HSBC/NASDAQ Dubai Amanah US Dollar Sukuk Index. One of the main features of the fund is the income distribution, whereby earned income will be distributed to customers on a quarterly basis.
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