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Al Danah GCC Equity Trading Fund

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Al Danah GCC Equity Trading Fund Al Danah GCC Equity Trading Fund Annual Report - 2020 CONTENT INVESTMENT FUND INFORMATION FUND PERFORMANCE FUND MANAGER CUSTODIAN AUDITOR FINANCIAL STATEMENTS 2 Al Danah GCC Equity Trading Fund A. INVESTMENT FUND INFORMATION 1. Al Danah GCC Equity Trading Fund 2. Investment objectives and polices Objectives of the Fund Al Danah GCC Equity Trading Fund is an open-end equity fund that aims to achieve medium and long-term capital growth by investing in listed companies that are compliant with the provisions of Islamic Shariah, in addition to companies listed in the markets of other Arab countries in the Middle East and North Africa at a rate of up to 20% of its net asset value provided that all the Fund’s assets comply with the Shariah rules specified by the Fund’s Shariah Committee. The Fund Manager has the right to invest in companies established in the countries of the Middle East and North Africa and whose main activity is concentrated in those countries, and which are listed in any of their capital markets or any of the other financial markets outside the region. In addition to investing in the shares of companies listed in those financial markets, the Fund Manager can invest in all other financial securities such as Real Estate Investment Trust funds (REIT), Exchange Traded Funds (ETF) and others. Investment Policies When choosing its investments, the Fund Manager considers the company's fundamentals, long-term profitability, ability to meet debts obligations, management capabilities, strategies, economic perspective, the level of competition and other similar factors. It analyzes these factors in addition to conducting relevant economic and sector research which may have impact on the company's future position. It should be noted that the distribution of the company's assets varies in each country according to the market situation, and the largest share is often for countries with the largest market value. The Fund Manager seeks to achieve the Fund’s objectives by investing in shares of companies listed on the local stock markets in the countries of the Gulf Cooperation Council: Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman (shares of Banque Saudi Fransi may be included). The Fund may also invest in similar securities listed in global stock markets, for example: Global Depository Receipts (GDRs) and American Depository Receipts (ADRs). The Fund is also entitled to invest in companies listed in other Arab markets in the Middle East and North Africa, taking into consideration that these investments do not exceed 20% of the Fund’s net asset value. 3. Distribution of income and gain policy The profits of the fund units will not be distributed to the investors, as the profits generated by the fund will be reinvested, and therefore the reinvestment will positively reflect on the value and price of the units. B. FUND PERFORMANCE 1. Financial highlights for the last 3 years 2020 2019 2018 Net Asset Value (NAV) 12,702,748.00 15,315,841.00 17,547,776.00 NAV per Unit 16.14 15.45 13.71 Highest NAV per Unit 16.32 16.33 15.35 Lowest NAV per Unit 10.81 13.71 13.309 Number of Units 786,927.00 991,172.00 1,279,692.00 Income Distribution per Unit - - - Expense Ratio 3.04% 3.07% 2.51% 2. Performance record Total Annualized Return for 1 Year, 3 Years, 5 Years, and Since Inception 1 Year 3 Years 5 Years Since Inception Total Return 4.46% 13.49% 23.88% 61.42% Total Annual Returns for Each of the Past 10 Years or Since Inception 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Total 4.46% 12.69% -3.59% -1.03% 9.33% -15.29% 9.17% 43.27% 13.52% -6.89% return 3 Al Danah GCC Equity Trading Fund Fund Fees and Expenses Amount (SAR) Tadawul Registration Fees 5,250 Regulatory Fees 7,500 Auditor Fee Expense 36,800 Remuneration of the Board of Directors 316 Benchmark Fees 18,750 Trading Expenses 27,191 Funding Fees - Other 19,476 Custody Fee 18,638 Management Fee 252,865 Shariah Audit Fee Expense - Total Expense Ratio % 3.04% * If there are any circumstances in which a fund manager may elect to waive or rebate any fees 3. Material Changes that occurred during the period and that affected the performance of the fund No material changes was done. 4. Exercise of Annual Voting Rights Type of Decision Date of Company General Subject of Voting Do Not Assembly Sustain Agree Assembly Agree Voting on the financial statements for the fiscal year ending 31-12-2019 √ Voting on the auditor’s report for the fiscal year ending 31-12-2019 √ Voting on the Board of Directors report for the fiscal year ending 31-12-2019. √ Voting on discharge of the Board of Directors members from liabilities for the fiscal year √ ending 31-12-2019. Voting on the resolution of the Board of Directors on what was distributed as cash dividends totaling (675) million riyals for the √ fiscal year 2019, at (1.5) riyals per share, or 15% of the capital Voting on the payment of SAR 1,8 million as remunerations and compensations to the SIIG 15/04/2020 Ordinary members of the Board of Directors, at (200) √ thousand riyals per member, for the fiscal year ending 2019. Voting on the appointment of the Company’s external auditors from among nominees, as per the Audit Committee recommendation, to review and audit the second, third and fourth √ quarter financial statements for the fiscal year 2020 and the first quarter of 2021, and approval of their fees Voting on delegating the Board of Directors to distribute interim dividends to its shareholders √ on a semi-annual or quarterly basis for the year 2020. Voting on updating the company's governance regulations regarding the functions of the √ Executive Committee. Voting on the auditor’s report for the fiscal year Savola 29/04/2020 Extraordinary ending 31-12-2019 √ 4 Al Danah GCC Equity Trading Fund Voting on the consolidated financial statements for the fiscal year ending 31-12- √ 2019 Voting on the Board of Directors report for the fiscal year ending 31-12-2019 √ Voting on discharge of the Board of Directors members from liabilities for the fiscal year √ ending 31-12-2019. Voting on the payment of (SAR 2,150,000) as remunerations and compensations to the members of the Board of Directors, for the √ fiscal year ending 2019. Voting on the recommendation of the Board of Directors to distribute SAR 160.2 million cash dividends to shareholders for the year 2019, at 0.30 riyals per share, which represents 3% of the nominal value of the share. The eligibility would be the shareholders of the company's shares on the day of the extraordinary general √ assembly as reflected on the company's register held with the Securities Depository Center (Deposit Center). At the end of the second trading day following the due date, the date of distribution of dividends will be announced Voting on the business and contracts that will take place between Panda Retail Company (a subsidiary of Savola) and Almarai (34.52% owned by Savola) and its subsidiaries, in which the board members: Mr. Sulaiman A. Al-Muhaidab and Mr. Badr Al-Issa, have an indirect interest in it, which is the purchase of √ food products. The transactions and contracts in 2019 amounting to 740.30 million riyals, which are continuous contracts that are carried out in the context of normal business and in accordance with the prevailing business conditions and without any preferential conditions (Attached). Voting on the business and contracts that will take place between United Sugar Company (a subsidiary of SavolaFoods) and Almarai (34.52% owned by Savola) and its subsidiaries, in which the board members Mr. Sulaiman A. Al-Muhaidab and Mr. Badr Al- Issa, have an indirect interest in it, which the √ sale of sugar products. The transactions and contracts in 2019 amounting to 62.95 million riyals, which are continuous contracts that are carried out in the context of normal business and in accordance with the prevailing business conditions and without any preferential conditions (Attached). Voting on the business and contracts that will take place between Panda Retail Company (a subsidiary of Savola) and Al-Manhal Water Factory Co., Ltd. (a majority owned company owned by of Abdulqadir Al Muhaidib & Sons, which owns 8.23% of Savola. The Board Members Mr. Sulaiman A. Al-Muhaidab and Mr. Essam A Al-Muhaidab, have an indirect interest in it, which is the purchase of food √ products. The transactions and contracts in 2019 amounted to 5.79 million riyals, which are contracts and continuous commercial transactions In the context of normal business and in accordance with prevailing business conditions and without any preferential conditions (attached). 5 Al Danah GCC Equity Trading Fund Voting on the business and contracts that will take place between The International Food Industries Company (a subsidiary of Savola Foods) owned by Savola and Almarai (34.52% owned by Savola) and its subsidiaries, in which the board members: Mr. Sulaiman A. Al-Muhaidab and Mr. Badr Al-Issa, have an indirect interest in it, which is the sale of √ specialized fat products and margarine. The transactions and contracts in 2019 amounting to 43.27 million riyals, which are continuous contracts that are carried out in the context of normal business and in accordance with the prevailing business conditions and without any preferential conditions (Attached). Voting on the business and contracts that will take place between Afia International Company (a subsidiary of Savola Foods) owned by Savola and Almarai (34.52% owned by Savola) and its subsidiaries, in which the board members: Mr.
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