Management Information
Fund Information
March 11, 2020G HSBC Saudi Freestyle Equity Fund Addition of Areej Almokbel to the fund's board of directors May 21, 2020G HSBC Saudi Freestyle Equity Fund Removal of Areej Almokbel from. Oct 28, 2020G HSBC Saudi Freestyle Equity Fund Adding the right issues to the fund's investment universe.
Fund Manager
Percentage of management fees, calculated on the Fund itself and on other funds in which the Fund invests (if the fund invests substantially in other investment funds). The fund manager receives reports and surveys issued through the dealer carrying out the activities, making them available to all the dealer's clients, in addition to arranging meetings with the listed companies at the request of the fund manager to meet them. Investment of the Fund Manager or any counterparty of the Fund Neither the Fund Manager nor any counterparty invests in this Fund.
Voting for the appointment of the Company's auditor from among the candidates based on the recommendation of the audit committee, in order to review, review and audit the Q2, Q3, Q4 and annual financial statements of the fiscal year 2020G and the first quarter of the fiscal year 2021G, and determining their fees. Voting on the recommendation of the Company's board of directors to distribute cash dividends for the second half of 2019G, at the rate of seventy-five (75) Halala for each share, representing 7.5% of the nominal value of the share and a total of Saudi Riyals , representing 7.5% of the capital, for the Company's shareholders, provided that the shareholders who own shares at the end of the trading day of the assembly and are registered in the company's shareholders 'are registered in the central depository company at the end. of the second trading day after the maturity date will have the right of pre-emption and the dividend distribution date will be announced later. Voting for the business and contracts to be connected between the Company and Hana Food Industries, in which the member of the Board of Directors Mr.
Vote on authorizing the Board of Directors with licensing powers entrusted to the Ordinary General Meeting as mentioned in paragraph (1) of article 71 of the Companies Law, for a period of one year from the date of approval by the General Meeting or until the end of the authorized term of the Board of Directors, whichever is earlier, in accordance with the conditions stated in the regulations and regulatory procedures issued in implementation of the Companies Act for listed public limited companies. All conflict matters related to the daily management of the Fund were regularly submitted to the Fund Board.
Custodian Statement
Certified Accountant Statement
The fund is managed by the fund manager, who also acts as the fund's administrator. The fund manager has made certain changes to the fund's terms and conditions. The Sub-Fund is subject to the Investment Fund Regulations (the "Regulations") issued by the Capital Markets Authority ("CMA").
The value of the Fund's portfolio is determined twice a week on Monday and Wednesday (each a "valuation day"). The financial statements are presented in Saudi Arabian riyal (“SAR”), which is also the functional currency of the Fund. It also requires management to exercise its judgment in the process of implementing the Fund's accounting policies.
These charges are calculated on each valuation day at an annual percentage of the Fund's net asset value. Financial assets and financial liabilities at FVTPL are initially recognized on the trade date, which is the date on which the Fund becomes a party to the contractual terms of the instrument. In assessing whether the contractual cash flows are exclusively payments of principal and interest, the Fund takes into account the contractual terms of the instrument.
Standards issued but not yet effective as of the date of issue of the Fund's financial statements are listed below. Related parties of the Fund consist of HSBC Saudi Arabia (being the Fund Manager, the Fund Board and administrator of the Fund), and The Saudi British Bank (“SABB”) (being a significant shareholder of the Fund Manager). These transactions were executed on the basis of approved Terms and Conditions of the Fund.
The subscription fee of up to 2% is not considered in the financial statement of the Fund, as the investment in the Fund is always without subscription fees. After mutual funds managed by the Fund Manager there were transactions in Fund shares: Name of the fund. Compliance with target asset allocations and portfolio composition are monitored by the Fund's Investment Committee.
Credit risk is regularly monitored by the Fund Manager to ensure that it complies with the investment guidelines of the Fund Board. The Fund's market risk is managed in a timely manner by the investment manager in accordance with applicable policies and procedures. The Fund's investments are sensitive to equity price risk arising from uncertainties about future prices.
The Fund recognizes transfers between levels of fair value at the end of the reporting period in which the change occurred.
