SAUDI ARABIA: Sedco Capital launched the public offering of its SC Multi Asset Fund, with subscriptions open until the 6th June 2024. This closed-end investment fund is to be listed on the main market of the Saudi Exchange (Tadawul), with a minimum target size of SAR300 million (US$79.95 million) and up to a maximum of SAR1 billion (US$266.5 million).
This Shariah compliant fund’s target allocations are 80% liquid assets and 20% illiquid assets. Within liquid assets, the fund aims for 60% local and global public equities and 40% local and global income assets, including money market and Sukuk. The illiquid assets will focus on global private equity investments. The proposed composite benchmark is comprised of 60% DJIMT Index, 20% DJ Sukuk TR Index and 20% 30d MVA of 1m SIBID.
