Gulf Islamic Fund
The drop in NAV value is due mosttly to the half-yearly semi-annual 5% of par cash dividend that has been discontinued on 2nd July 2009 NAV. (i.e. the previous NAV was of $6.5286 and the cash dividend account for $0.5 of the decline in NAV, whereas decline in market value of current asset only dropped by $0.0217 per unit).
Capital appreciation achieved through investments in securities listed or to be listed in te GCC Equity Markets (Stock Exchanges) directly, through sub-funds and/or Sub Managers, taking into consideration the Islamic Sharia's procedures.
• To be carried our by the Investment Manager
and third party funds if appropriate.
• Top-down and bottoms up approach relying
on research based fundamentals.
• Portfolio diversification within Sharia's
provisions through regional allocation.
• Value added through country and sector.