HSBC Saudi Arabia Launches New GCC Equity Income Fund

The fund is an open-ended Islamic Shariah compliant fund which aims to achieve capital growth and providing income, by investing in sharia compliant equities listed on GCC markets that offer sustainable dividend yields and with potential dividend growth over the long term.

The performance of the Fund is measured against the benchmark of S&P GCC Shariah Composite Index.

Osamah Shaker, MD, Head of Financial Markets at HSBC Saudi Arabia, said “we are proud to offer customers the opportunity to invest in GCC markets through this new fund, which is an important addition to our wide range of investment products. One of the main features of the fund is investing in fundamentally-sound GCC listed companies, which offer regular dividends with the possibility of potential growth over the long term. We are of the opinion that investing in GCC markets is an important part of any diversified investment portfolio.”

Saudigazette