Saudi: Sedco Capital completes unit allocation of its multi asset traded fund

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Saudi Arabia - Sedco Capital, a shariah-compliant and ESG-led asset management and investment advisory firm, has announced the completion of the allocation process of its SC Multi Asset Traded Fund for institutional and individual investors in accordance with its approved terms and conditions.

The Fund attracted 351,428 subscribers from institutional and individual investors, including Saudi residents and GCC nationals, said the Saudi-based group in a statement.

The final net subscription amount reached a total of SAR300 million ($80 million) for 30 million units reflecting investor trust in Sedco Capital's capabilities and the Fund's potential to provide investors with long-term capital growth and sustainable income distribution.

Headquartered in Jeddah, Sedco Capital oversees more than $8 billion in total assets under management (AUM) and has offices in Saudi capital Riyadh, Dubai, London and Luxembourg, it stated.

"The total subscribed units allocated to institutional investors reached 4,707,821, representing 15.69% of the total offering. 25,292,179 units were allocated to individual investors, representing 84.31% of the total offering," said a company spokesman.

The subscription period started on May 19 and ended on June 27, at a final price of SAR10.23 per unit, including subscription fees and VAT of SAR1 per unit, through the receiving entities, he stated.

"Listing and commencement of trading of the Fund’s units on the main Saudi Market (Tadawul) will take place 20 business days after the end of the offering period, or latest by July 25, he added.

According to him, the SC Multi Asset Traded Fund will invest in a diversified portfolio of local and global public equities, local and global income assets, and local and global private equity investments.

It leverages Sedco Capital’s expertise in managing a balanced portfolio, ensuring optimal asset allocation and risk management effectively, he added.