UGCC Fund

From one of the trusted and largest full-fledged financial advisory services entity in Sultanate of Oman namely United Securities, comes a thorough bred GCC fund, amply reflecting the transparency and strength that we have always been known to our clientele, for over 17 years. This fund has been designed and conceptualized keeping in mind, that by pursuing a clearly defined, consistent investment discipline and diversification, we can deliver strong and consistent returns for our clients over the long term.

United GCC Fund invests in all GCC markets and targets an absolute return. Therefore, there will be no one benchmark but the investment may use different indices for comparison purposes.

United GCC Fund will be actively managed and will invest across the GCC equity markets. The biggest advantage of the fund will be to capture opportunities that are not available locally but present regionally. It will invest in companies that are liquid and have significant market capitalization. Since there is an absence of risk hedging instruments like derivatives in the regional markets, the fund in order to preserve capital has the flexibility to remain in full cash during times of panic. The fund will operate on a low fee structure and aims to provide dividends regularly. It is suitable for investors looking for active participation in the growth of the GCC.

The Fund is open-ended and will have an initial subscription price of RO 1 (plus 20 Baisa as issue expenses). During the IPO period starting from 10th April 2011 till 10th May 2011, the minimum subscription for the United GCC Fund will be 3000 units at an Initial Price of RO 1.020. There will be no maximum limit for investment. The Fund is open for investment to all Individual, Institution, Omani and Non-Omani investors.

To view the prospectus, you will be able to download it from the Forms page or the link:

                                                      UGCC Prospectus Download

 

 

Procedure

Date

Commencement of subscription

10/4/2011

Closing of subscription

10/5/2011

Due date for Issue Manager to receive the subscription applications from collecting banks

22/5/2011

Notifying CMA of the outcome of subscription

25/5/2011

Approval of CMA

31/5/2011

Refund of money received on applications rejected

1/6/2011

Dispatch of notices regarding allotment and invitation for constitutive general meeting

1/6/2011

Incorporation of the fund

9/6/2011

Commencement of subsequent subscription and redemptions

3 months after Closure of the IPO period