Aljazira European Equities Fund

Aljazira European Equities Fund is a Shariah-compliant open-ended public investment fund managed by Aljazira Capital (Aljazira Financial Markets Company), with Lazard Asset Management Limited serving as the Fund’s sub-manager.

The Fund aims to provide access to European equity markets through a diversified portfolio of Shariah-compliant equities listed in those markets, while seeking to achieve long-term capital growth and a return exceeding the growth rate of the Fund’s benchmark index.

The Fund Manager follows an active management approach and applies a “Top-Down” strategy in identifying securities expected to achieve long-term capital growth. This is based on company research, including return on investment and price-to-earnings ratio, in addition to public and proprietary economic research from internal and external sources. It also employs multiple strategies that adapt to changing economic conditions.

The Fund primarily invests in equities listed in European markets and may invest in European equity investment funds, provided that they are approved by the regulatory authorities and comply with the Shariah standards approved by the Fund Manager’s Shariah Committee. The Fund may also invest available liquidity in short- or long-term Murabaha transactions, provided that this does not conflict with its primary objectives. The Fund does not invest in derivatives, including Futures, Options, and Swaps, nor does it invest in preferred shares.

The Fund’s investment in equities listed in European markets ranges from 65% to 100% of its assets, while investment in European equity funds may reach 25% and cash may reach 10%. The Fund’s ownership in any investee fund may not exceed 20% of that fund’s net asset value. Investment in the shares of a single issuer may not exceed 10% of the Fund’s net asset value. However, if a company’s market weight exceeds 10% of the investment universe of Shariah-compliant listed companies, its allocation may be increased to match its market weight, subject to a maximum of 20% of the Fund’s net assets. This investment universe is updated on a quarterly basis.

The Fund’s benchmark is the Dow Jones Islamic European Equities Index – Total Return, issued by S&P Dow Jones Indices. The index measures price changes in Shariah-compliant equities listed in European markets.

Subscription and redemption requests are accepted from Sunday to Thursday, and the deadline for receiving requests is 12:30 PM on the business day preceding the dealing day.