To provide medium to long-term capital growth by investing in the Industrial sector companies, listed on the Saudi equity market.
The Fund invests in shares of publicly quoted industrial sector companies listed on the Saudi equity market. In addition, the fund will invest excess cash in Commodity Trading Transactions (Murabaha Transactions).
Fund Manager's Comments:
TASI has sustained its gains for the second month in a row, and closed at 6,710.56 points, which is 2.25% higher than the previous month. Thus, Market performance YTD has recorded 1.36% positive return. The strong and healthy first quarter results of 2011 for the Saudi banks, petrochemical and retail companies' earnings along with the steadiness of oil prices above the USD 100/barrel level, have led to the upward performance in TASI during this month. As for the relative sectors' performance,
Petrochemical sector up 5.71%
Agriculture & Food Industries up 0.45%
Multi-Investment up 2.25%
Industrial Investment up 6.52%
Building & Construction up 1.19%