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Al Islami Savings Scheme
Al Islami Savings Scheme, the first ever Islamic savings scheme, is custom made to enable you to save regularly for a more secure tomorrow. The equity investment is managed by Mellon Global Investments, part of Mellon Financial Corporation, one of the world’s largest global financial services companies; the cash investment is handled by Dubai Islamic Bank. With entry level investment at AED 10,000, a minimum investment in multiples of AED 1,000 per month, and a choice of two investment baskets, this scheme provides monthly liquidity as well as capital protection. To achieve your financial objectives, invest today.
Product Features
- Initial Minimum Investment :AED 10,000
- Optional Additional Monthly Investment: AED 1,000 or multiples thereof at investor’s choice
- Base Currency: US Dollars
- Investment Term: 5 years, extendable for further 5 years at investor’s discretion
- Capital Protection:
1. Cautious: 90% Capital Protection*
2. Balanced: 75% Capital Protection* - Switching between Portfolio Baskets :Allowed at investor’s discretion once in any calendar year subject to 30 days written notice.
- Early Redemption: Full or partial encashment allowed every month subject to 30 days written notice.
Fees
- Early Redemption Fee: AED 250 per redemption.
- Upfront Fee: 3% on initial investment only payable to Dubai Islamic Bank.
- Annual Management Fee: 1.40% of NAV payable monthly in arrears and adjusted against the portfolio value.
Investment Managers
- Equity Manager: Mellon Global Investments Ltd.
- Cash Manager: Dubai Islamic Bank PJSC.
- Sharia Advisor: Dubai Islamic Bank PJSC.
Salient Features
- Islamic savings scheme linked to International Equities.
- Exposure to blue chip international companies.
- Monthly liquidity and investment opportunity.
- Active investment process.
- Flexible savings plan that suits all types of investors.
- Investment Manager for Equities - Mellon Global Investments.
- Industry Sector Allocation: Oil & Gas 20.54% - Healthcare 20.05% - Technology 19.33% - Industrial Goods & Services 8.58% - Retail 6.14% - Personal & Household Goods 5.92% - Basic Resources 4.84% - Telecommunications 4.34% - Chemicals 3.21% - Food & Beverage 2.46% - Construction & Materials 1.1% - Automobiles & Parts 1.05% - Utilities 0.91% - Media 0.55% - Financial Services 0.54% - Travel & Leisure 0.43%
DJIMI – Top 5 Holdings
- Exxon Mobil Corporation 3.19%
- Microsoft Corporation 2.45%
- British Petroleum 2.01%
- Pfizer Inc 1.93%
- Johnson & Johnson 1.79%
Indicative NAV:
For more information please call : +971 4 6092222
*Capital Protection refers to the use of certain precautions and/or financial mechanisms to protect a stated portion of the invested capital. This does not imply a capital guarantee.