The Alinma Wareef Endowment Fund Covers Its Minimum Capital

With total subscriptions exceeding SAR 51 million, Alinma Investment announced the successful completion of the initial offering period for units of the Alinma Wareef Endowment Fund and the covering of the minimum for the first public, open endowment investment fund in the Kingdom of Saudi Arabia.

The fund's investment objective is to preserve the endowment's principal and grow it over the long term by investing in a range of assets under a conservative investment strategy suited to the form of the endowment and the beneficiaries specified in advance by the endowers. The fund manager, «Alinma Investment», will invest the fund's assets to grow the endowed capital and distribute a share of the returns annually and continuously to the fund's designated endowment beneficiaries — health and medical services in the Kingdom of Saudi Arabia — through Wareef Charity Foundation, part of the King Faisal Specialist Hospital Charity Foundation.