After having obtained the Capital Market Authority's approval, ANB Invest, the investment arm of ANB - Arab National Bank, has launched its new Al-Mubarak IPO Fund, an open-end Shariah-compliant fund.

The SAR denominated fund is managed by ANB Invest (Authorized by the CMA) and aims to achieve capital growth through long-term investment in Shariah-compliant Initial Public Offerings (IPOs) in the Saudi Stock Market, in addition to the shares of companies listed within three years.

Speaking on the occasion, Mr. Bassam Al-Mubarak, ANB Invest CEO, stated that: 'Investors, particularly individuals, suffer from the reduced allocation of IPO shares and the Al-Mubarak IPO Fund offers them the opportunity to improve their participation in IPOs indirectly, thanks to the increased allocation ratio of IPO shares granted to funds; the fund offering goes in-line with the company's commitment to diversify its investment products, especially the Shariah-compliant funds'.

On the other hand, Mr. Majed Al-Otaibi, Head of Asset Management in ANB Invest stated that: 'The Saudi Stock Market is considered the largest Equity & IPO market in the region, having witnessed 24 IPOs between 2012 and 2016 for a total of SAR 38.59 billion; additionally, it is expected that many IPOs will be launched in the upcoming period as the willingness of companies to list their shares is growing'.

It is worth mentioning that the fund's Initial Subscription Period has started on 17 April and will go until 8 May 2016, during which all customers will benefit from a full waiver on subscription fees.

ANB - Arab National Bank issued this content on 25 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2016 14:48:20 UTC

Original Document: http://www.anb.com.sa/press_article.asp?id=171