The Clap
On Monday, the MSCI US Technology Equity ETF was listed as an ETF on the Saudi Tadawul.
What
The fund will be traded with the symbol (9407) and the daily fluctuation limits are +/- 10%.
So What
Albilad MSCI US ETF is a public, open-ended, Shariah-compliant ETF that aims to track and simulate the performance of the “MSCI US Technology Index” that complies with Sharia standards, before calculating any distributions, fees, or expenses.
The ETF invests in both the American financial markets and Saudi financial markets.
Now What
The minimum amount to start fund operations is SAR 10 million.
If the minimum amount is not collected during the initial offering period, the fund manager must return to the unitholders the subscription amounts and any returns resulting from their investment without any deduction.
The fund manager has the right to extend the initial offering period for a period of 30 working days or close it before that date.
