Mubasher: Sidra Capital on Sunday announced the distribution of Sidra Mutajara Fund’s dividends for the fourth quarter (Q4) of 2019, with total returns for last year amounting to 6%.
The US dollar-denominated fund is licensed by the Saudi Capital Market Authority (CMA) and combines Shari’a-compliant money market investment with structured trade finance products, according to a press release.
In this regard, the vice-chairman of Sidra Capital, Hani Baothman, said that the $35 million fund is an attractive option for investors, thanks to its above-benchmark returns compared to the interest rates for USD deposits, which reached an average of 1.25% last year.
In addition, the fund offers shareholders the option to distribute dividends on a quarterly basis, he added.
