Thndr Savings Clouds ( az-thndr )

Thndr AZ Fund commonly known as “Savings Clouds” is a Shariah-compliant money market issuance offering a cumulative daily return. It is the fourth issuance of the Azimut Multi-Issuance Fixed Income Fund.

The fund aims to generate a cumulative daily return by investing in a diversified range of financial instruments that comply with Islamic Shariah principles, while maintaining high levels of liquidity and allowing investors to subscribe and redeem units on a daily basis through the Thndr app.

The fund’s investments are managed by Azimut Investments Egypt, while Thndr Securities Brokerage acts as the marketing agent and the recipient of subscription and redemption orders. The fund is also overseen by an independent Shariah Supervisory Committee responsible for reviewing investments and ensuring their ongoing compliance with Islamic principles.

According to the prospectus, up to 100% of the issuance’s assets may be invested in Shariah-compliant treasury bills, treasury bonds, and other government securities. Up to 75% of the assets may be allocated to profit-bearing deposits, current accounts, savings accounts, and investment certificates offered by Islamic banks or Islamic windows of commercial banks.

In addition, up to 20% of the assets may be invested in Shariah-compliant investment funds, while up to 20% may be allocated to corporate sukuk. Investments in Egyptian treasury securities and sovereign sukuk combined may not exceed 49% of the total assets of the issuance.