Principal Islamic USA Property Fund
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).
|Investment Manager||Principal Islamic Asset Management Sdn Bhd|
|Initial Offer Date||18 March 2021|
|Offer Period||6 months from the Initial Offer Date|
|ISIN Code||Bloomberg Ticker|
|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|