The Saudi Capital Market Authority (CMA) has approved the public offering of a diversified fund by AlBilad Investment Company.

In a statement to the Saudi Stock Exchange (Tadawul) on Monday, the authority said it granted the approval for the sale of the units of “AlBilad Diversified SAR Fund” after all the regulatory requirements have been met.

However, it clarified that the approval should not be considered as an endorsement of the fund.

“An investment decision without reading the terms and conditions of the fund and studying its content may involve high risk. Therefore, the investor must read the fund’s terms and conditions… in order to be able to assess the feasibility of the investment,” the CMA said.

Headquartered in Riyadh, AlBilad offers investment services and solutions to investors, including corporate customers.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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