The fund will operate across multiple sectors in local, regional, global and emerging markets JEDDAH: Alkhabeer Capital, a Jeddah-based asset management firm specializing in Shariah-compliant investments, on Sunday announced the launch of the initial public offering (IPO) of its Alkhabeer Diversified Income Traded Fund. The fund is aiming to issue 100 million units at SR10 ($2.66) each, with a 15-day subscription period ending on Dec. 24, 2020. The fund, expected to be worth SR1 billion, aims to provide investors with the opportunity to achieve periodic returns through investing in income-generating assets including sukuk, trade finance, leasing and income funds. The fund will operate across multiple sectors in local, regional, global and emerging markets. The fund’s IPO will be open to Saudis, foreign residents in the Kingdom and GCC nationals who will be able to subscribe for units in the fund through the appointed receiving banks. The banks appointed to handle the subscription phase are Aljazira Capital, Al Ahli NCB, Riyad Bank and Banque Saudi Fransi.