Principal Islamic USA Property Fund
General Information
The Fund seeks to provide income by long term yield-oriented indirect investments in apartment buildings in the USA, through Murabahah transactions (on the basis of Wakalah), catered to the middle-income working-class population, while conforming to Shariah principles.
The Fund will invest up to 100% of its NAV indirectly in the Real Estate Portfolio through commodity Murabahah transactions (on the basis of Wakalah).
Fund Details
| Investment Manager | Principal Islamic Asset Management Sdn Bhd |
| Initial Offer Date | 18 March 2021 |
| Offer Period | 31 July 2022 |
| Fund Domicile | Malaysia |
| Base Currency | USD |
| Minimum Investment | USD10,000,000 |
| Income Distribution | Quarterly |
Fund Codes
| ISIN Code | Bloomberg Ticker |
| MYU0100A0252 | PRIUPCU MK |
Fund Fees
| Management Fee | Up to 0.3% per annum of the Fund’s NAV |
| Property Asset Management Fee | Up to 0.7% per annum of the Fund’s NAV |
