Lulwa KD Money Market Fund

Kuwait’s Gulf Capital Investment Company (InvestGB) has finally rolled out its first Islamic investment fund – the Lulwa KD Money Market Fund – 15 months after the company was formed.

Talal AlKhamis, the firm’s director of regional equities and fixed income, said at the February 2025 launch that this fund is suitable for clients seeking investments aligned with Shariah standards while aiming for attractive returns – making it a good fit to meet a growing demand for low-risk, highly liquid investment options.

“It also provides a safer alternative to traditional long-term investments. The low minimum investment requirement allows the fund to reach a greater audience,” another spokesperson shared with IFN Investor.

Initial entry is KWD1,000 (US$3,261), with subsequent purchases in multiples of KWD1 (US$3.26). Subscriptions are conducted via Gulf Bank, the parent of InvestGB, with the offering open to individual Kuwaiti citizens and residents, foreigners plus institutions.

Subscriptions opened a day after the launch, on the 10^th February 2025 and closed on the 3^rd March 2025, after successfully raising the target KWD2 million (US$6.52 million) minimum capital. The final Capital Market Authority license was obtained on the 6^th March 2025, allowing the fund to commence operations.

The fund invests mainly in Shariah compliant money market instruments – including Sukuk issued by GCC governments and corporates, government treasury instruments and deposits with banks. The fund should not hold more than 10% of a single issuer’s instruments.

The maximum period of any investment is 397 days, with the weighted average maturity of the fund’s total investments capped at 180 days. “Investments are not strictly limited to the GCC region, provided they meet Shariah and fund guidelines.”

These principles help focus prudent management of this open-ended fund, which is not tagged to any industry benchmark.

This fund expands the offering by InvestGB, which began operating since November 2023. InvestGB currently manages over KWD1 billion (3.26 billion) worth of assets – mainly through providing wealth and asset management, investment and advisory services for high-net-worth individuals and institutional investors.

InvestGB also forged a partnership with alternative investment manager Investcorp – to allow its client base to access Investcorp’s diversified real estate investment portfolios.

 *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.