Launched on the 1st August 2024, the Allbatross Portfolio Short-Term Participation Free (TL) Fund is offered as a sub-fund within Turkiye under the Free Umbrella Fund structure operated by Allbatross Portfolio Management.
With units priced from TRY1 (US$0.03) each, available to both local and foreign investors, this fund’s portfolio consists of Shariah compliant instruments listed on Turkiye’s stock market Borsa Istanbul as well as off-market transactions offered via rated financial institutions like banks and brokerages.
Allowed investments include domestic public and private sector lease certificates, committed transactions, promise agreements, Murabahah transactions, participation accounts and other money and capital market instruments.
According to this open-ended fund’s main investment strategy, the weighted average maturity of portfolio investments will be at least 25 days and at most 90 days. Assets for which the number of days remaining to maturity cannot be calculated are excluded.
Denominated in the Turkish lira, the fund portfolio excludes assets in foreign currencies, gold and other precious metals and capital market instruments based on these assets.
Being Islamic-focused, among the excluded investments are derivatives, reverse repo, repo, interest-based futures, options, warrants and similar interest-bearing transactions.
Further, this fund cannot engage in short-selling or margin-trading, nor is it allowed to obtain loans or earn interest income by lending out its portfolio assets.
This fund’s performance benchmark is the BIST-KYD 1 Monthly Dividend TL Index. Since price fluctuations of financial instruments within the fund portfolio are at a medium risk level, the fund has a medium risk classification.
Trading in this fund’s units will be conducted via the Turkish Electronic Fund Trading Platform (TEFAS) and returns to investors are in the form of capital gains upon sale of units.
*Disclaimer: The opinions and viewpoints expressed in the Fund Profile do not constitute as a recommendation for any funds highlighted. The information presented is not investment advice and should not be treated as such.
| Allbatross Portfolio Short-Term Participation Free (TL) Fund | |
| Fund manager | Allbatross Portfolio Management |
| Launch date | 1st August 2024 |
| Asset class | Money market instruments |
| Base currency | TRY |
| Initial investment | TRY1 (US$0.03) |
| Investment objective | To provide capital gains by investing in various asset classes compatible with Shariah guidelines |
| Benchmark | BIST-KYD 1 Monthly Dividend TL Index |
Source: Allbatross Portfolio Management
