SAUDI ARABIA: Al Rajhi Capital, a subsidiary of Al Rajhi Bank, has launched the open-ended Al Rajhi Multi Asset Conservative Fund.
The fund targets a high level of capital preservation and growth in assets with a lower risk framework by creating a balanced portfolio of equities and Murabahah.
It can invest up to 15% of its assets in equity funds and hold up to 100% in commodity Mudarabah funds.
Its benchmark is 15% against a range of equity indexes and 85% against the three-month Sibor index.