Al Rayan Investment Company, the manager of the Al Rayan Fund for the Gulf Cooperation Council, announced that it distributed accumulated profits to the fund’s investors at a value of 0.113 riyals per unit for the year 2022, as these profits were distributed in two installments: 0.063 riyals per unit in July 2022 and 0.050 riyals per unit in January 2023.
The percentage of these distributions represents 5.1% of the unit value on December 31, 2022, when the unit value was 2,219 riyals.
Mr. Haitham Katerji, CEO of Al Rayan Investment Company (fund manager), commented, “We are pleased to distribute these profits for the year 2022, supported by the outstanding performance of Al Rayan Fund for the GCC countries, as the performance ratio exceeded 11% during 2022. The fund’s assets continued to grow continuously. We also thank the Fund’s investors for their constant support and confidence.
The fund achieved total returns for investors that exceeded 11% (net of fees) during 2022. On the other hand, the Gulf stock markets declined by more than 4% during the year. The Al Rayan GCC Fund is not only one of the largest regional Sharia-compliant funds in the Gulf, but also the best performer in 2022.
Since its inception in 2010, the Fund has achieved a return of over 140%, which equates to an annual return of over 7% (net of fees). Al Rayan GCC Fund invests in shares and sukuk that comply with the principles of Islamic Sharia in the GCC countries.
Mr. Akbar Khan, Senior Manager, Asset Management Group, explained: “Being one of the few asset managers in the region with expertise in both sukuk and listed equities enables us to seize opportunities across both asset classes for the benefit of all our investors.” “Our team continues to seek investment opportunities with strong and sustainable returns for investors.”
