AL Mal UAE Equity Fund — Fund Information / Factsheet 2016

Sep 18, 2016

MONTHLY FACT SHEETS August 2016

Al Mal UAE Equity Fund Al Mal MENA Equity Fund Al Mal Saudi Shariah Equity Fund Al Mal MENA Income Fund Al Mal Liquidity Fund

Al Mal Investments Funds – Performance Review

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Equity Funds

	Equity Funds
	As of 31 August	Launch Date	NAV Per Unit1	Week To Date	Month To Date	YTD 2016	Since Inception
	Al Mal UAE Equity Fund (Performance Inclusive of Dividends)	April 2006	AED 1.22	0.51%	-1.03%	6.63%	26.75%
	S&P UAE Composite Index			-0.03%	-0.92%	9.16%	-37.53%
	Al Mal MENA Equity Fund	June 2008	USD 7.83	0.00%	-0.25%	-0.38%	-21.70%
	S&P Pan Arab Large Cap Index			-0.22%	-1.20%	-3.77%	-48.11%
	Al Mal Saudi Sharia Equity Fund	March 2011	USD 0.99	0.30%	-5.34%	-5.25%	0.30%
	S&P Saudi Large Midcap Sharia Index			0.80%	-4.09%	-6.09%	-7.42%

Income Funds

Income Funds
As of 31 August	Launch Date	NAV Per Unit1	Yield2	Month To Date	YTD 2016	Since Inception
Al Mal MENA Income Fund (Performance Inclusive of Dividends)	Feb 2009	USD 12.77	2.50%	0.38%	2.74%	36.87%
Al Mal Liquidity Fund	April 2009	AED 1.19	1.83%	0.18%	1.08%	19.28%

Notes:

Performance data is net of fees. Performance computation is done internally based on reports from third-party administrators (Standard Chartered/Apex/Al Mal)

1. NAV Per Unit is rounded to two decimal places for reporting purposes only.

2. For Al Mal MENA Income Fund, yield refers to average Yield to Maturity (“Yield”) for the invested portion (excl cash portion). For Al Mal Liquidity Fund, yield refers to 7-day annualized portfolio return (net).

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 2
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Al Mal UAE Equity Fund– Monthly Factsheet

NAV Per Unit: AED 1.22

Performance Graph

Al Mal UAE Equity Fund was down 1% in August v/s. 0.9% decrease in S&P UAE Index. Since inception, the Fund has outperformed the benchmark by 64%.

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Al Mal UAE Equity Fund S&P UAE Index (Rebased)1
1.90
1.70
1.50
1.30
1.10
0.90
0.70
0.50
0.30
0.10
-0.10
1Benchmark was MSCI UAE Index since inception until Dec 2008, replaced thereafter by S&P UAE
Composite Index
A
pr-06 Dec-06 Aug-07 Apr-08 Dec-08 Aug-09 Apr-10 Dec-10 Aug-11 Apr-12 Dec-12 Aug-13 Apr-14 Dec-14 Aug-15 Apr-16
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Market Overview & Fund Manager Comments

DFM Index increased 0.6% in August, lagging behind the MSCI emerging market index, which increased by 2.3%, driven by increased inflows into emerging markets. Dull month in terms of market volumes due to lack of catalysts; speculative rally in small-cap names was the theme in August. Brent increased by 11% in August on speculation of potential deal between OPEC and Russia to agree on oil product freeze. Positive data from the US increased probability for a rate hike in September. However, conflicting comments from the Fed governors continued to confuse markets with lack of clear direction.

Q2 earnings season concluded on a cautious note, with both Drake & Scull and Arabtec continuing to report losses, highlighting the headwinds facing the construction sector. In contrast, new projects continue to be announced: Jumeirah Central, Deira Islands, Dubai South to name a few. In a much awaited reform, draft law on bankruptcy was approved by the cabinet. This is likely to be positive for banks as it paves way for a more formal and structured approach towards resolution of ‘default’ cases.

	Performance2	Fund	Benchmark3	Relative Performance
	MTD	-1.0%	-0.92%	-0.11%
	YTD 1 Year	6.6% -2.0%	9.2% -0.4%	-2.5% -1.5%
	3 Year*	19.5%	17.1%	2.4%
	5 Year*	105.4%	93.3%	12.1%
	Since Inc.*	26.8%	-37.5%	64.3%

The UAE PMI increased to 54.7 in August from high of 55.3 in July, mainly due to softer export demands.

Source: Al Mal internal performance measurement based on reports from third-party administrators (Standard Chartered)

2 Performance is net of fees; 3-year and 5-year return is cumulative 3S&P UAE Composite Index

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31 August 2016

Fund Key Information	Fund Key Information
Fund Objective: The Al Mal UAE Equity Fund’s objective is to achieve medium to long-term capital growth by investing primarily in equities listed on the UAE Exchange.
Fund Manager	Tariq Qaqish
Inception Date	5th April 2006
Fund Registration	UAE
Currency	AED
Subscription	Weekly
Dividend Frequency	Yearly
Min Subscription	AED 100,000
Management Fee	1.50%
Performance Fee	20% over 10% hurdle with high watermark
Subscription Fee	Upto 2%
Redemption	Weekly
Benchmark Index	S&P UAE Composite Index
Fund Type	Open Ended
Administrator	Standard Chartered
Custodian	Standard Chartered
Financial Year End	31st December
Auditors	Deloitte
ISIN	AEA003630026
Zawya Code	MALEQTY.MF
Bloomberg Code	MALUAEQUH
Reuters Code	LP65038334
Morningstar Sec ID	F00000JQIN

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 3
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Al Mal UAE Equity Fund – Monthly Factsheet

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Fund Performance[1]

Performance Yearly	Fund	Benchmark	Relative Perf.	Performance Monthly	Fund	Benchmark	Relative Perf.		Sector Allocation	Sector Allocation	Sector Allocation	Sector Allocation	Sector Allocation
YTD 2016	6.6%	9.2%	-2.5%	Jan	-13.4%	-12.1%	-1.3%
2015	-15.3%	-17.6%	2.3%	Feb	12.9%	13.0%	-0.1%	Others
2014	11.2%	7.5%	3.7%	Mar	5.1%	5.5%	-0.4%	Telecom
2013	81.4%	88.0%	-6.6%	Apr	5.6%	4.4%	1.2%	Capital Goods
2012	28.7%	23.5%	5.2%	May	-5.4%	-6.9%	1.5%	Energy
2011 2010	-18.4% -1.0%	-17.7% -8.8%	-0.7% 7.8%	Jun Jul Aug	-0.4% 5.3% -1.03%	1.7% 6.3% -0.92%	-2.1% -1.0% -0.11%	Transport Diversified Fin						Benchmark Fund
2009	31.2%	24.6%	6.6%	Sep				Real Estate
2008	-56.9%	-69.4%	12.5%	Oct				Banks
2007	50.4%	54.8%	-4.4%	Nov				0%		10%		20%		30%		40%
2006	-19.1%	-35.2%	16.1%	Dec
Since Inc.	28.1%	-37.0%	65.1%	YTD 2016	6.6%	9.2%	-2.5%	Geographic Allocation

Top Portfolio Holdings % of Fund Emaar Properties 12.9 ADCB 8.6 FGB 8.1 Amanat 6.9 NBAD 6.7 Total # of Holdings 21 1Performance is net of fees
	Fund Characteristics2	Fund Benchmark
	Standard Deviation	21.4% 23.7%
	Sharpe Ratio	0.67 0.54
	Beta	0.89
	Tracking Error	4.7%
	Information Ratio	0.14
	2Calculated using 5-year weekly data

Fund Characteristics2	Fund	Benchmark
Standard Deviation	21.4%	23.7%
Sharpe Ratio	0.67	0.54
Beta	0.89
Tracking Error	4.7%
Information Ratio	0.14

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Cash
Nasdaq
Abu Dhabi
Dubai
0% 10% 20% 30% 40% 50% 60%
Benchmark Fund
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Source: Al Mal internal performance measurement based on reports from third-party administrators (Standard Chartered/Apex)

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 4
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Al Mal MENA Equity Fund – Monthly Factsheet

NAV Per Unit: USD 7.83

Performance Graph

Al Mal MENA Equity Fund was down 0.25% in August v/s. 1.2% decrease in the S&P Pan Arab Index. The Fund has outperformed the benchmark by 26% since its launch in June 2008.

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14.0
Al Mal MENA Equity Fund
S&P Pan Arab LargeCap Index (Rebased)
12.0
10.0
8.0
6.0
4.0
2.0
Jun-08 Mar-09 Dec-09 Sep-10 Jun-11 Mar-12 Dec-12 Sep-13 Jun-14 Mar-15 Dec-15
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Market Overview & Fund Manager Comments

Regional markets showed mixed performance in August with Doha Index leading from the front following FTSE-upgrade rally. Tadawul and Abu Dhabi Index were down, while DFM Index was slightly positive. No new catalyst for regional markets other than a brief boost generated by speculation of oil production freeze and lower probability of Fed rate hike in September.

Q2 corporate earnings season continued on a cautious note with subdued performance reported by UAE construction companies. Liquidity conditions continue to be tighter in Saudi Arabia and Qatar as reflected in stretched loans-to-deposit ratios and elevated inter-bank rates. According to a report by CBRE, residential rentals in Qatar have shown more pronounced declines in H1 2016 on weaker demand, due to downsizing in both public and private sectors. Saudi Arabia relaxed QFI rules effective from 4 September in order to attract foreign institutional inflows. In Egypt, the parliament finally approved VAT of 13% on some goods and services, with rate increasing to 14% next year.

	Performance1	Fund	Benchmark2	Relative Perf.
	MTD YTD	-0.25% -0.38%	-1.2% -3.8%	0.95% 3.4%
	1 Year 3 Years	-3.8% -6.6%	-9.4% -14.5%	5.6% 8.0%
	5 Year	20.6%	-6.7%	27.4%
	Since Inc.	-21.7%	-48.1%	26.4%

PMI data points for UAE suggested a slowing trend in export orders while Saudi PMI increased, reflecting boost to manufacturing due to higher oil production. The PMI in Egypt stood at 47, suggesting lower demand due to inflation and liquidity conditions.

Source: Al Mal internal performance measurement based on reports from third-party administrators (Apex)

1 Performance is net of fees; 3-year and 5-year return is cumulative

2S&P Pan Arab Composite LargeCap Index

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31 August 2016

Fund Key Information	Fund Key Information
Fund Objective: The objective of the Fund is to achieve significant capital appreciation, primarily through investment in equity and equity related securities in the Middle East and North African markets
Fund Manager	Tariq Qaqish
Inception Date	15th June 2008
Fund Registration	Bahrain
Currency	USD
Subscription	Weekly
Min Subscription	USD 250,000
Management Fee	1.75%
Subscription Fee	Up to 3%
Redemption	Weekly
Benchmark Index	S&P Pan Arab Large Cap
Fund Type	Open Ended
Administrator	Apex
Custodian	Standard Chartered
Financial Year End	31st December
Auditors	Deloitte
Zawya Code	MALMENA.MF
Bloomberg Code	MALMENE BI
Reuters Code	LP65123002
Morningstar Sec ID	F00000JQIQ

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 5
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Al Mal MENA Equity Fund – Monthly Factsheet

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Fund Performance[1]

Performance	Fund	Benchmark	Relative
			Perf.
YTD 2016	-0.38%	-3.8%	3.4%
2015	-12.5%	-17.6%	5.1%
2014	-0.7%	-1.5%	0.8%
2013	31.1%	18.9%	12.2%
2012	6.6%	2.6%	4.0%
2011	-8.8%	-15.1%	6.3%
2010	15.7%	13.9%	1.8%
2009	17.7%	12.7%	5.0%
2008	-47.5%	-49.9%	2.4%
Since Inc.	-21.7%	-48.1%	26.4%

Performance	Fund	Benchmark	Relative Perf.			Sector	Sector	Sector	Allocation	Allocation	Allocation	Allocation	Allocation
Jan	-12.2%	-13.4%	1.2%
Feb	8.7%	6.9%	1.8%	F&B Cash
Mar	3.9%	2.6%	1.3%	Materials
Apr May	4.0% -4.9%	5.4% -3.9%	-1.4% -1.0%	Others Energy
Jun Jul Aug	-1.4% 3.4% -0.25%	-0.9% 2.1% -1.2%	-0.5% 1.3% 0.95%	Telecoms Diversified Fin Capital Goods Transportation								Benchmark Fund
Sep				Real Estate
Oct				Banks
Nov					0%		10%		20%		30%		40%		50%		60%
Dec
YTD 2016	-0.38%	-3.8%	3.4%	Geographic						Allocation

1 Performance is net of fees

Performance is net of fees
Top Portfolio Holdings	% of Fund
Amanat	7.2
Ooredoo Qsc	5.9
Dana Gas	4.5
Qatar National Bank	4.3
National Bank of Abu Dhabi	4.1
Total # of Holdings	35

Source: Al Mal internal performance measurement based on reports from third-party administrators (Apex)

Fund Characteristics2	Fund	Benchmark
Standard Deviation	14.7%	14.2%
Sharpe Ratio	0.18	-0.18
Beta	0.99	-
Tracking Error	4.3%
Information Ratio	1.20

2 Calculated using 5-year weekly data

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Cash
Other
Nasdaq
Kuwait
Egypt
Saudi Arabia
Benchmark
Qatar
Dubai Fund
Abu Dhabi
0% 10% 20% 30% 40% 50%
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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 6
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Al Mal Saudi Equity Fund – Monthly Factsheet

NAV Per Unit: USD 0.99

Performance Graph

Al Mal Saudi Shariah Equity Fund was down 5.3% in August as compared to 4.1% drop in S&P Saudi Shariah Index. The Fund has outperformed the benchmark by 7.7% since its launch in march 2011.

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Al Mal Saudi Shariah Equity Fund S&P Saudi Shariah Index
1.80
1.60
1.40
1.20
1.00
0.80
0.60
Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16
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Market Overview & Fund Manager Comments

Tadawul Index was down 3.5% in August, lagging both its regional as well as emerging market peers. Sentiment continues to be negative on KSA stocks, although valuations have turned more attractive now. Negative news flow from construction sector, subdued Q2 earnings and the widening budget deficit continues to put investors on the sidelines.

In the banking sector, liquidity continues to be tight as reflected in interbank rates which are multi-year high, and loans-to-deposit ratio exceeding SAMA’s limits. Massive borrowing from bond sales to domestic institutions drained liquidity out of the system at a time when it is needed the most. Saudi Government is planning to tap international debt markets to raise money in order to partially fund the deficit. This could ease liquidity conditions to a certain extent. According to recent media reports, government is reviewing thousands of contracts worth USD 70 bn and may cancel a third of them. These reports indicate that cost cutting drive is on top of agenda for the government, until its economic diversification plans yield results. Point-of-sale data continues to be disappointing as well, suggesting lower consumption spending.

	Performance1	Fund	Benchmark2	Relative Perf.
	MTD	-5.3%	-4.1%	-1.2%
	YTD	-5.2%	-6.1%	0.84%
	1 Year	-10.0%	-12.1%	2.1%
	3 Years	-17.0%	-23.4%	6.4%
	5 Year	6.9%	-2.2%	9.1%
	Since Inc.	0.30%	-7.4%	7.7%

The PMI for August was 56.6, up from 56.0 in July. Record oil production increase in July and August, leading to an increase in manufacturing activity, weighed positively on data.

Source: Al Mal internal performance measurement based on reports from third-party administrators (Standard Chartered)

1 Performance is net of fees; 3-year and 5-year return is cumulative

2S&P Saudi Arabia LargeMidCap Shariah Index

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31 August 2016

Fund Key Information	Fund Key Information
Fund Objective: To achieve significant capital appreciation primarily through Shariah -compliant investments in equity and equity-related securities issued by countries based in, or with a significant proportion of their business activities in, the Kingdom of Saudi Arabia.
Fund Manager	Vijay Harpalani
Inception Date	23rd March 2011
Fund Registration	UAE
Currency	USD
Subscription	Weekly
Min Subscription	USD 50,000
Management Fee	1.75%
Subscription Fee	Up to 3%
Redemption	Weekly
Benchmark Index	S&P Saudi Large Midcap Shariah
Fund Type	Open Ended
Administrator	Standard Chartered
Custodian	Standard Chartered
Financial Year End	31st December
Auditors	Deloitte
Zawya Code	AEA003630018
Bloomberg Code	MALSSEF.MF
Reuters Code	MALSSEQ UH
Morningstar Sec ID	LP68128853

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 7
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Al Mal Saudi Equity Fund – Monthly Factsheet

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Fund Performance[1]

Performance	Fund	Benchmark	Relative
			Perf.
YTD 2016	-5.2%	-6.1%	0.84%
2015	-15.6%	-17.9%	2.3%
2014	-3.5%	-9.1%	5.6%
2013	22.9%	23.1%	-0.2%
2012	6.5%	8.6%	-2.1%
2011	0.1%	-0.5%	0.6%
Since Inc.	0.30%	-7.4%	7.7%

1 Performance is net of fees

Top Portfolio Holdings	% of Fund
Al Rajhi Bank	17.0
SABIC	11.1
Saudi Telecom Co.	10.8
SPIMACO	5.5
Alinma Bank	5.4
Total # of Holdings	27

Performance	Performance	Fund	Benchmark	Relative Perf.	Sector	Sector	Sector	Allocation	Allocation	Allocation	Allocation	Allocation
	Jan	-9.7%	-15.7%	6.0%
	Feb Mar	4.7% 3.0%	6.5% 3.5%	-1.8% -0.5%	Transportation
	Apr	8.0%	9.6%	-1.6%	Cash
	May	-2.7%	-2.8%	0.1%
	Jun Jul Aug	-0.1% -2.1% -5.3%	0.0% -1.1% -4.1%	-0.1% -1.0% -1.2%	Com & Prof Supplies Commercial Services
	Sep				Real Estate
	Oct
	Nov				Others							Benchmark
	Dec YTD 2016	-5.2%	-6.1%	0.84%	Healthcare							Fund
					F&B staples
Fund Characteristics2 Standard Deviation			Fund 16.1%	Benchmark 18.5%	Telecom
Sharpe Ratio			0.01	-0.09	Materials
Beta			0.84	-
Tracking Error*			5.0%		Banks
Information Ratio*			0.22			0%		10%		20%		30%		40%		50%

2 Calculated using 5-year weekly data

Source: Al Mal internal performance measurement based on reports from third-party administrators (Standard Chartered)

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 8
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Al Mal MENA Income Fund – Monthly Factsheet

31 August 2016

NAV Per Unit: USD 12.77

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Market Overview & Fund Manager Comments Geographic Allocation Fund Key Information
Mal MENA Income Fund was up 0.4% in August. The Fund has Fund Objective:
delivered returns of 36.9% since its launch in February 2009. Oman The Al Mal MENA Income Fund’s objective is to pursue
Abu Dhabi an income-oriented investment strategy which permits
Positive data in U.S. increased probability of rate hike this year until ISM Money Market - UAE distribution of periodic and consistent payment of
dividends to unit holders, whilst seeking to preserve and
data came-in with subdued numbers, putting to rest all speculation of rate Qatar
grow the capital of the Fund.
hike this year. In regional fixed income space, secondary market prices Dubai
softened around mid-August due to expectation of massive pipeline of 0% 10% 20% 30% 40% 50% Fund Managers Tariq Qaqish & Vijay Harpalani
primary issues across different maturities and issuers. Sharjah Islamic Bank
Sector Allocation Inception Date 1st February 2009
raised USD 500 mn through a sukuk priced at MS+185 bps, QNB issued
USD 1 billion 5-year bond with 2.125% coupon under its EMTN program. Fund Registration Cayman Islands
Energy
Emaar also launched a 10-year sukuk albeit with a tighter pricing 3.45% Governement Bonds Currency USD
which we believed was unattractive. Burgan Bank raised USD 500 million Telecom Subscription Weekly
5-year paper paying 3.125%, pricing discount to par. Saudi and Kuwait Investment Holdings
government are expected to hit the market in September with its maiden Retail Min Subscription USD 100,000
Real Estate Management Fee 1.00%
sovereign issuance.
Transportation
Performance Graph Subscription Fee Up to 2%
Money Market
Banks Redemption Weekly
14.3
13.8 Al Mal MENA Income Fund 0% 10% 20% 30% 40% 50% Benchmark Index S&P MENA Bond Index
Credit
% of Fund Type Open Ended
13.3 HSBC / S&P MENA USD Bond Index1 Top Portfolio Holdings Rating: Fund
S&P/Moody Administrator Al Mal Capital
12.8
Comm. Bank of Qatar 19 BBB+/ A2 8.7 Custodian Al Mal Capital
12.3
Inv. Corp. of Dubai 20 Not Rated 7.6
Financial Year End 31st December
11.8
Mubadala 21 AA/Aa2 4.3
11.3 Auditors Deloitte
Total # of Holdings 21
10.8 Zawya Code MALMNIF.MF
10.3 Portfolio Analysis Bloomberg Code ALMENAI KY
Portfolio Maturity 3.3 years Reuters Code LP65154947
9.8
Dec-10 Aug-11 Apr-12 Dec-12 Aug-13 Apr-14 Dec-14 Aug-15 Apr-16 Avg. YTM (Gross) of Investments 2.50% Morningstar Sec ID F00000JQIR
1Benchmark was HSBC MENA Bond Index since inception until Dec 2013, replaced thereafter by S&P MENA Bond Index Weighted avg. Rating of Portfolio BBB+
YTD Since
Performance [2] Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2015 2014 2013 2012 2011 2010 2009
2016 Inception
Al Mal MENA Income Fund (Perf.
-1.6% 1.4% 0.7% 0.6% 0.3% 0.5% 0.5% 0.4% 2.7% 0.9% 5.5% 1.8% 12.6% 7.6% 3.8% -2.0% 36.9%
Inclusive of Dividends.)
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Market Overview & Fund Manager Comments

Al Mal MENA Income Fund was up 0.4% in August. The Fund has delivered returns of 36.9% since its launch in February 2009.

Positive data in U.S. increased probability of rate hike this year until ISM data came-in with subdued numbers, putting to rest all speculation of rate hike this year. In regional fixed income space, secondary market prices softened around mid-August due to expectation of massive pipeline of primary issues across different maturities and issuers. Sharjah Islamic Bank raised USD 500 mn through a sukuk priced at MS+185 bps, QNB issued USD 1 billion 5-year bond with 2.125% coupon under its EMTN program. Emaar also launched a 10-year sukuk albeit with a tighter pricing 3.45% which we believed was unattractive. Burgan Bank raised USD 500 million in 5-year paper paying 3.125%, pricing discount to par. Saudi and Kuwait government are expected to hit the market in September with its maiden sovereign issuance.

Performance Graph

Source: Al Mal internal performance measurement based on reports from Al Mal Capital/Operations

2 Performance is net of fees

Private and Confidential

Al Mal Liquidity Fund – Monthly Factsheet

31 August 2016

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NAV Per Unit: AED 1.19

NAV Per Unit: AED 1.19	31 August 2016	31 August 2016
Market Overview & Fund Manager Comments The Al Mal Liquidity Fund was up 0.18% in August, and has delivered returns of c.19.3% since its launch in April 2009. 1-week EIBOR remained largely unmoved compared to volatile moves in June and July. The Fund’s net yield is around 1.83% level, well above the benchmark which is at 0.47% Fund Key Information Months to Maturity Al Mal Liquidity Fund offers you: Weekly liquidity Higher interest income than deposit rates Access to cash in case of emergency Diversify your portfolio (core asset class) Suitable for risk-averse allocation Park liquidity during uncertain and volatile markets 1.00 1.02 1.04 1.06 1.08 1.10 1.12 1.14 1.16 1.18 1.20 Apr-09 Nov-09 Jun-10 Jan-11 Aug-11 Mar-12 Oct-12 May-13 Dec-13 Jul-14 Feb-15 Sep-15 Apr-16 Fund NAV 1 Week EIBOR (Benchmark) 15% 55% 30% 0-1 2-3 6-12	Fund Key Information
	Fund Objective: The Fund’s investment objective is to provide investors with capital preservation and above average money market returns. The assets will be invested primarily in UAE and GCC short term paper and deposit instruments.
	Fund Managers	Tariq Qaqish & Vijay Harpalani
	Inception Date	15th April 2009
	Fund Registration	UAE
	Currency	AED
	Subscription	Weekly
	Min Subscription	AED 100,000
	Management Fee	0.40%
	Redemption	Weekly
	Notice Period	3 business days
	Fund Type Administrator	Open Ended Al Mal Capital
	Custodian	Al Mal Capital
	Financial Year End	31st December
	Auditors	Deloitte
	Zawya Code	MALAEDF.MF
	Bloomberg Code	AMALLIQ UH
	Reuters Code	LP65135775
	Morningstar Sec ID	F00000JQIP
Performance1 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec YTD 2016 2015 2014 2013 2012 2011 2010 ~~Since~~ Inception
Al Mal Liquidity Fund 0.12% 0.11% 0.13% 0.11% 0.14% 0.17% 0.14% 0.18% 1.1% 1.5% 1.7% 1.9% 2.1% 2.6% 3.8% 19.3%

Source: Al Mal internal performance measurement based on reports from our back office

2 Performance is net of fees

Private and Confidential

Disclaimer

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This document is provided for informational and illustration purposes only. It does not constitute a solicitation, recommendation or offer to buy or sell any investment product or subscribe to any investment management or advisory service. Past performance of the Fund as illustrated herein is not a guarantee of future returns. Prospective investors in the Fund must obtain and carefully read the Fund’s most current Prospectus prior to making an investment in the Fund. The information contained herein, including any expression of opinion, has been obtained from or is based upon sources believed to be reliable, and is believed to be fair and not misleading, however, Al Mal Capital does not guarantee its accuracy or completeness. This document is not for distribution to the general public. It is directed at persons authorized to invest in the Fund and residing in jurisdictions where the Fund is authorized for distribution or where no such authorization is required. The information contained herein must not be reproduced in whole or in part without the prior written consent of Al Mal Capital.

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48 Burj Gate, Downtown Dubai, Sheikh Zayed Road, Office 901, P.O. Box 119930, Dubai, UAE Tel +971 4 360 1111, Fax +971 4 360 1122 www.almalcapital.com 11
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