Real estate investment trusts.
|
|
- Cassandra Lang
- 5 years ago
- Views:
Transcription
1 Real estate investment trusts
2 Keypoint is one of the GCC s most comprehensive professional business services providers. We deliver statutory and corporate advice, accounting, investment administration, tax and VAT advisory, human capital management, IT consulting, management consulting, financial regulatory compliance advice and trust administration services to a wide range of businesses from corporations and large financial services and insurance institutions to family managed conglomerates and single owner companies.
3 Real estate investment trusts (REITs) Preface This brochure provides a brief introduction to the creation and conversion mechanisms of Real Estate Investment Trusts REITs in the Kingdom of Bahrain ( Bahrain ), offering an overview of the structure of REITs and the various regulatory requirements in Bahrain. In addition, it sets out key highlights of the real estate industry in Bahrain and the potential benefits and challenges, which should be considered by potential REIT investors. By acquiring equities of funds and companies operating as REITs, investors can benefit from the characteristics of real estate investment including a strong cash yield with a diversified consistent income stream, long term capital preservation and appreciation and protection from inflation. In addition, REITs could have tax advantages, and this should be considered as the countries of GCC prepare to introduce taxes. What are REITs In 1960 REITs were created in the USA to offer investors the opportunity to invest in large-scale, diversified portfolios of income-generating real estate. Today, REITs have become a desirable investment tool for developers, pension funds, individuals, investment banks and corporations. REITs raise capital through a public or private placement including operator seed capital. REITs are set up by a Trust Instrument in order to directly or indirectly, acquire, hold, administrate, manage and sell off local and foreign real estate properties. Real estate developers are considering REITs as an opportunity to access additional source of capital, which will help expand the real estate sector within the economy. REITs can also enhance the performance of the Capital Markets sector, the creation of jobs and uplift the real estate profession within the Labor Market. 1 3
4 REITs in the Kingdom of Bahrain Recently, the laws and regulations relating to the Bahrain real estate market underwent extensive reforms.. These reforms have had a significant impact on many sectors and gave investors in the real estate market a strong investment base protected by the new laws and regulations. Further, in 2015, Bahrain implemented three new significant laws and regulations related to the rents and leases of properties, real estate development and the listing rules of REITs. These new laws and regulations were mainly enacted to protect real estate investors, landlords, tenants, buyers and developers. In Bahrain, REITs are established under the Financial Trust Law under the purview of the Central Bank of Bahrain CBB. REITs are also governed by the REITs Listing Rules of Bahrain Bourse BHB. With reference to the CBB Rule Book Volume 7; REITs in Bahrain are classified as Collective Investment Undertakings CIU with capital raised from the public or through private placement in a form of units or shares. REITs can take one of two forms; Bahrain Domiciled Expert CIU BDE or Bahrain Domiciled Exempt CIU BDX. The BDE requires the authorisation of the CBB and can only be offered to Expert Investors. The minimum capital requirements are to the equivalent of U$ 10,000. The BDX requires initial registration with the CBB and can only be offered to Accredited Investors and requires a minimum initial investment of an equivalent of US$ 100,000. BDX is not subject to authorisation or ongoing supervisory requirement from any regulatory authority. Authorisation & registration of REITs in Bahrain REITs shall be authorised and registered in accordance with the CBB requirements set out in the ARR module of the CBB rule book volume 7. The application, information, prospectus, subscription list and documents which are requested by the CBB and BHB must be completed by the Trustee before launching the REIT and the listed units shall be in dematerialised form and freely transferable. Bahrain REITs investment rules The CBB Rulebook stipulates an operating framework requiring REITs to invest primarily in income generating properties. 3 4
5 Your business is our priority The minimum investment by a REIT shall consist of two properties with a combined minimum value equivalent to US$ 20 million and representing least 80% of the Net Asset Value NAV. The following rules also apply to REITs: Property held for development shall not exceed more than 20% of the NAV of the REIT. In addition, investing in other REITs shall not exceed 20% of its NAV. Other assets of REITs must be in the form of cash or cash equivalent. REITs can borrow only for investment purposes. The leverage shall not exceed 60% of the NAV. REITs shall distribute annual dividends of not less than 90% of its audited net realized income. Valuation of REIT properties are governed by CBB rules that include independence requirements and are in line with the International Valuation Standards Committee guidelines. Keypoint provides a full range of Trust Administration services: Advising and liaising with professional advisors and regulatory authorities in Bahrain, Setting up and administering Trust instruments, Recommending the most practical and efficient structure in order to achieve the REITs objectives. Keypoint is licensed and regulated by the CBB to provide fund administration and trust services. 1 5
6 Our people The key source of Keypoint s strength is our people. Our team is committed to quality client service, providing timely and accurate responses and solutions to any given scenario. Our consultants, around 55+, are qualified and experienced in their relevant fields and hold Masters or Bachelor degrees in Law, Finance, IT, Management or Business Administration, and professionals who are members of the Institute of Chartered Accountants, Management Accountants, Internal Auditors, Chartered Financial Analysts, Certified Information Systems Auditors, Chartered Institute of Personal Development and other IT Certifications including CISCO, PMP, ISO 22301/BS Contact us If you have any enquiries about our REITs services please contact us and we will be pleased to discuss your business needs. Nandakumar Narasimhan Director nandakumar.narasimhan@keypoint.me Tel Rami Al Jallad Executive Manager rami.aljallad@keypoint.me Tel
7 Your success is our business
8 Kingdom of Bahrain 24th Floor, NBB Tower Government Avenue PO Box Manama T F Hashemite Kingdom of Jordan Building 19 Yajouz Street, Jubaiha PO Box 2838 Amman T F
Central Bank of Bahrain
Collective Investment Undertakings Name of Proposed CIU Central Bank of Bahrain Form 1: CIU Application Form (Application for Authorisation / Registration of a Bahrain Domiciled CIU/ Overseas Domiciled
More informationAUTHORISATION/REGISTRATION REQUIREMENTS MODULE
: AUTHORISATION/REGISTRATION REQUIREMENTS MODULE MODULE: ARR (Authorisation/Registration Requirements) Table of Contents ARR-A ARR-B ARR-1 ARR-2 ARR-3 ARR-4 ARR-5 ARR-6 Date Last Changed Introduction ARR-A.1
More informationGlossary of Defined Terms
Glossary of Defined Terms Glossary History Change Date April 2007 July 2007 Description of Changes Initial Launch Amendment of definition of administrator(s) Glossary History July 2007 Page 1 of 1 A Accredited
More informationOFFERING OF SECURITIES MODULE
Central Bank of Bahrain Rulebook Volume 6 Capital Markets OFFERING OF SECURITIES MODULE Central Bank of Bahrain Rulebook Volume 6 Capital Markets MODULE OFS: Offering of Securities Table of Contents Date
More informationSUKUK. A Fixed Income Opportunity
SUKUK A Fixed Income Opportunity WHAT ARE SUKUK Tradable Shariah-compliant Fixed Income Securities Sukuk, a shariah compliant fixed income instrument, represents an undivided share in the ownership of
More informationIPO: THE ROAD TO GROWTH
IPO: THE ROAD TO GROWTH WHY LIST ON BAHRAIN BOURSE Bahrain Bourse (BHB) was established in 1987, and is considered home for some of the region s best known companies, many of which are now dual-listed.
More informationBahrain Bourse B.S.C. (c ) LISTING RULES. Page 1 of 87
Bahrain Bourse B.S.C. (c ) LISTING RULES Page 1 of 87 Table of Contents SECTION 1 DEFINITIONS & INTERPRETATIONS... 3 SECTION 2 GENERAL RULES... 15 SECTION 3 EQUITY SECURITIES LISTING... 22 SECTION 4 EQUITY
More informationMarkets Brief. Listed Funds and the Offering of Units. Introduction
Markets Brief Listed Funds and the Offering of Units Issue No 10 September 2014 Introduction Welcome to the tenth issue of Markets Brief. In this edition we take a closer look at the regulation applicable
More informationMICROFINANCE INSTITUTIONS CAPITAL ADEQUACY AND LIQUIDITY REQUIREMENTS MODULE
MICROFINANCE INSTITUTIONS CAPITAL ADEQUACY AND LIQUIDITY REQUIREMENTS MODULE MODULE: CA Capital Adequacy and Liquidity Requirements Table of Contents CA-A CA-B CA-1 Date Last Changed Introduction CA-A.1
More informationGLOBAL GCC ISLAMIC FUND (AN EXPERT OPEN-ENDED INVESTMENT FUND REGISTERED UNDER THE LAWS OF THE KINGDOM OF BAHRAIN)
LAST UPDATED ON: NOVEMBER 07, 2010 GLOBAL GCC ISLAMIC FUND (AN EXPERT OPEN-ENDED INVESTMENT FUND REGISTERED UNDER THE LAWS OF THE KINGDOM OF BAHRAIN) PROSPECTUS OFFERING OF UNITS CONSTITUTED BY AN INSTRUMENT
More informationThe Sharia Supervisory Board of Ithmaar Bank B.S.C. (c) (the Bank) performed the following during the financial period ended at 31 December 2017:
Ithmaar Bank B.S.C. (c) In the Name of Allah, the Beneficent, the Merciful Report of the Sharia Supervisory Board on the activities of Ithmaar Bank B.S.C. (c) for the period ended at 13 Rabi Al-Akher 1439
More informationCENTRAL BANK OF BAHRAIN
Name of Proposed Licensee CENTRAL BANK OF BAHRAIN Form 1: Application for a License (Application for a license to carry out regulated specialised services in the Kingdom of Bahrain) (This form was last
More informationWE ARE. An oasis of investment opportunities
WHO WE ARE An oasis of investment opportunities Bahrain Bourse is a self-regulated multi-asset marketplace with a current market cap of US$ 22 billion. Bahrain Bourse aims to offers to its investors, issuers,
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on: 9 October 2017 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to
More informationSUPPLEMENTARY INFORMATION Appendix CL- (i) Client Assets: Agreed Upon Procedures
SUPPLEMENTARY INFORMATION Appendix CL- (i) Client Assets: Client Assets: History Change Date Description of Changes 07/2008 Initial Launch 07/2012 Report amended and shortened CL: : History July 2012 AGREED
More informationINTERNATIONAL INVESTMENT BANK B.S.C. (c) CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION 30 JUNE 2017
INTERNATIONAL INVESTMENT BANK B.S.C. (c) CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION 30 JUNE 2017 INTERNATIONAL INVESTMENT BANK B.S.C. (c) Condensed consolidated interim financial information
More informationRegulatory & Disclosure Requirements for GFH s Substantial Shareholders & Controllers
Regulatory & Disclosure Requirements for GFH s Substantial Shareholders & Controllers Contents Preliminary & Approval Requirements 2 Substantial Shareholders (holder of 5% or more of GFH shares) 2 Controller
More informationINVESTCORP BANK B.S.C. CONSOLIDATED FINANCIAL STATEMENTS
INVESTCORP BANK B.S.C. CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2017 FISCAL YEAR 2017 CONTENTS INDEPENDENT AUDITORS' REPORT TO SHAREHOLDERS OF INVESTCORP BANK B.S.C.... 2 CONSOLIDATED STATEMENT OF PROFIT
More informationRULEBOOK OF THE NIGERIAN STOCK EXCHANGE (ISSUERS RULES)
RULEBOOK OF THE NIGERIAN STOCK EXCHANGE (ISSUERS RULES) PROPOSED RULES FOR LISTING OF REAL ESTATE INVESTMENT TRUSTS (REITs) ON THE NIGERIAN STOCK EXCHANGE 0.0 Introduction 0.1 The proposed Rules are an
More informationACQUISITION OF 100% INTEREST IN THE DATA CENTRE LOCATED SOUTH OF DUNLEAVY DRIVE, CELTIC GATEWAY, CARDIFF BAY, CARDIFF, UNITED KINGDOM
ACQUISITION OF 100% INTEREST IN THE DATA CENTRE LOCATED SOUTH OF DUNLEAVY DRIVE, CELTIC GATEWAY, CARDIFF BAY, CARDIFF, UNITED KINGDOM 1. INTRODUCTION The Board of Directors of Keppel DC REIT Management
More informationSUPPLEMENTARY INFORMATION Appendix BR- (ii) Insurance Broker Return: Agreed Upon Procedures
SUPPLEMENTARY INFORMATION Appendix BR- (ii) Broker Return: Agreed Upon Procedures Broker Return: Agreed Upon Procedures History Change Date 04/2012 Initial Launch Description of Changes IBR: Agreed Upon
More informationJDRF INTERNATIONAL. Financial Statements. June 30, 2014 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors JDRF International: We have audited the
More informationCONSULTATION PAPER NO. 93
CONSULTATION PAPER NO. 93 22 DECEMBER 2013 QUALIFIED INVESTOR EXEMPT FUNDS CONSULTATION PAPER NO 93 QUALIFIED INVESTOR EXEMPT FUNDS Part 1: Introduction and Overview Why are we issuing this paper? 1. This
More informationBASEL II PILLAR III DISCLOSURES
BASEL II PILLAR III DISCLOSURES 30 JUNE 2015 ALUBAF Arab International Bank B.S.C (c) Basel II -Pillar III disclosures As at 30 June 2015 Table of Contents 1 Introduction 3 2 Corporate Structure 3 3 Balance
More informationCentral Bank of Bahrain. Trust Registration or Amendment Form (Form for the registration or amendment of Trust Instruments in the Kingdom of Bahrain)
Central Bank of Bahrain (Form for the registration or amendment of Trust Instruments in the Kingdom of Bahrain) This form was last updated in October 2017 Table of Contents Date Last Changed General Information
More informationVAT Update GCC Transportation Services
VAT Update GCC Transportation Services 1 VAT Update GCC Transportation Services Transportation is vital to the economic advancement of Bahrain and the other GCC States. This fact is made clear with the
More informationARA-CWT Trust Management (Cache) Limited
ARA-CWT Trust Management (Cache) Limited Cache Logistics Trust Manager of PROPOSED ACQUISITION OF A WAREHOUSE IN AUSTRALIA 1. Introduction The board of directors of ARA-CWT Trust Management (Cache) Limited,
More informationNotification Form. Financial Services Regulatory Authority (FSRA) Foreign Fund - Notification Form (FFN)
Notification - Foreign Fund Notification Form Financial Services Regulatory Authority (FSRA) Foreign Fund - Notification Form (FFN) This notification form should be submitted by an ADGM FSRA Authorised
More informationC O H E N & S T E E R S S I C A V
C O H E N & S T E E R S S I C A V Société d Investissement à Capital Variable Global Listed Infrastructure Fund Global Real Estate Securities Fund European Real Estate Securities Fund Global Preferred
More informationFINANCING COMPANIES LIQUIDITY RISK MANAGEMENT MODULE
FINANCING COMPANIES LIQUIDITY RISK MANAGEMENT MODULE MODULE: LM Liquidity Risk Management Table of Contents LM-A LM-B LM-1 LM-2 LM-3 Date Last Changed Introduction LM-A.1 Purpose 01/2014 LM-A.2 Module
More informationTHE ENDOWMENT FOR THE SUSTAINABILITY OF THE INTERNET ENGINEERING TASK FORCE
! 1.0 Introduction THE ENDOWMENT FOR THE SUSTAINABILITY OF THE INTERNET ENGINEERING TASK FORCE ENDOWMENT POLICY Adopted May 29, 2012 As Amended April 20, 2015 This Endowment Policy (the Endowment Policy
More informationTax services.
Tax services www.keypoint.com Keypoint is one of the GCC s most comprehensive providers of business advisory services. Our services - including accounting solutions, statutory & corporate advisory, investment
More informationFiled pursuant to Rule 497(e) Registration Nos ;
Filed pursuant to Rule 497(e) Registration Nos. 333-57548; 811-10319 Supplement dated April 20, 2018 to the Summary Prospectus, Prospectus and Statement of Additional Information ( SAI ) each dated October
More informationEconomic and Banking Bulletin First Quarter 2018
Economic and Banking Bulletin First Quarter 2018 Content First: Economic Developments in the Kingdom of Bahrain Second: Performance of the Banking Sector Third: Banking Legislations Fourth: Banking Sector
More informationBasel II, Pillar 3 Disclosures
Basel II, Pillar 3 Disclosures RISK AND CAPITAL MANAGEMENT FOR THE YEAR ENDED 31 December 2013. These disclosures have been prepared in accordance with the Public Disclosure Module ( PD ) of the CBB Rule
More informationLIBRA DANA SAFA FUND (LDS)
RESPONSIBILITY STATEMENT This Product Highlights Sheet has been reviewed and approved by the directors or authorized committee or persons approved by the Board of Libra Invest Berhad and they collectively
More informationThe QFC Collective Investment Scheme regime in a nutshell
Last Update: April 2017 The QFC Collective Investment Scheme regime in a nutshell 1 Contents The QFC Collective Investment Scheme regime in a nutshell 1 Introduction 3 2 The QFC collective investment scheme
More informationCOUNTERPOINT GLOBAL EQUITY FUND
COUNTERPOINT GLOBAL EQUITY FUND Supplement to the Prospectus dated 20 May 2016 for Sanlam Global Funds plc (a Retail Investor Alternative Investment Fund) This Supplement contains specified information
More informationSINGAPORE INFORMATION MEMORANDUM (the "Information Memorandum") BLACKSTONE ALTERNATIVE INVESTMENT FUNDS PLC (the "Company")
SINGAPORE INFORMATION MEMORANDUM (the "Information Memorandum") BLACKSTONE ALTERNATIVE INVESTMENT FUNDS PLC (the "Company") An umbrella fund with segregated liability between sub-funds, and its sub-fund
More informationEmergence of Real Estate Investment Trust (REIT) in the Middle East. 5th December 2018
Emergence of Real Estate Investment Trust (REIT) in the Middle East 5th December 2018 REITs Modelled after Mutual Funds Real Estate Investment Trust allow investors to participate in a capital intensive
More informationMarkets Brief. Ongoing Market Disclosure. Introduction. Ongoing Market Disclosure by Reporting Entities. Guidance. Periodic distributions
Markets Brief Ongoing Market Disclosure Periodic distributions Connected Person disclosure Issue No. 6 January 2014 Introduction In this edition, we discuss the DFSA s policy on (1) ongoing market disclosure
More informationThis Supplement forms part of and should be read in conjunction with the Prospectus for the ICAV dated 6 July 2017 (the Prospectus ).
INTERNATIONAL EQUITY FUND Supplement to the Prospectus dated 27 February 2018 for Ci GLOBAL INVESTMENTS RIAIF ICAV (a Retail Investor Alternative Investment Fund) This Supplement contains specified information
More informationPRODUCT HIGHLIGHTS SHEET
This Product Highlights Sheet is an important document. Prepared on: 28 October 2016 It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to
More informationPHILLIP MONEY MARKET FUND (THE FUND )
Prepared on: 31 March 2015 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to
More informationBASEL III PILLAR III DISCLOSURES 30 JUNE 2016
BASEL III PILLAR III DISCLOSURES 30 JUNE 2016 AAIB-Sensitive Page 1 Table of Contents 1 Introduction 3 2 Corporate Structure 3 3 Capital Structure 4 4 Capital Adequacy Ratio (CAR) 4 5 Profile of risk weighted
More informationINVESTCORP BANK B.S.C. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2011 (UNAUDITED)
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Description Page REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS TO THE BOARD
More informationFIRST SUPPLEMENTAL PROSPECTUS FOR CIMB-PRINCIPAL TOTAL RETURN BOND* FUND
FIRST SUPPLEMENTAL PROSPECTUS FOR CIMB-PRINCIPAL TOTAL RETURN BOND* FUND Manager : CIMB-Principal Asset Management Berhad (304078-K) Trustees : HSBC (Malaysia) Trustee Berhad (1281-T) This First Supplemental
More information500 million Secured Note Program listed on the Irish Stock Exchange. Frequently Asked Questions
500 million Secured Note Program listed on the Irish Stock Exchange Frequently Asked Questions Introduction to Corporate Finance Bonds Ltd As the name suggests, Corporate Finance Bonds provides corporate
More informationThe following are some of the differences in the requirements that apply to public and private companies:
GUIDANCE NOTE 14 Public Limited Companies What is a public company? A public limited company is a limited liability company that offers its securities (stock/shares, bonds/loans, etc.) for sale to the
More informationTable of Contents. Filed Pursuant to Rule 424(b)(3) Registration No PROSPECTUS
Filed Pursuant to Rule 424(b)(3) Registration No. 333-215274 PROSPECTUS Cole Credit Property Trust V, Inc. Maximum Offering of $1,500,000,000 in Shares of Common Stock Cole Credit Property Trust V, Inc.
More informationNotification Form. Financial Services Regulatory Authority (FSRA) Exempt Fund or Qualified Investor Fund Notification Form - (FEQN)
Notification Form Financial Services Regulatory Authority (FSRA) Exempt Fund or Qualified Investor Fund Notification Form - (FEQN) This notification form should be submitted by an ADGM FSRA Authorised
More informationQ&A Credit Suisse (Lux) Portfolio Funds Opportunistic USD (Yield/Balanced) The Funds Will Be Restructured
Questions & Answers September 8, 2017 Q&A Funds Opportunistic USD (/) The Funds Will Be Restructured Key points The Funds Opportunistic USD (/) were set up with a FCP legal structure. As many investors
More informationINVESTCORP BANK B.S.C. CONSOLIDATED FINANCIAL STATEMENTS
INVESTCORP BANK B.S.C. CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2016 FISCAL YEAR 2016 CONTENTS INDEPENDENT AUDITORS' REPORT TO SHAREHOLDERS OF INVESTCORP BANK B.S.C.... 2 CONSOLIDATED STATEMENTS OF INCOME
More informationNotification Form. Fund Managers are advised to retain a copy of this notification form and all attachments for their records.
Notification Form Financial Services Regulatory Authority (FSRA) Foreign Fund - Notification Form (FFN) This notification form should be submitted by an ADGM FSRA Authorised Person (Fund Manager) 1 licensed
More informationUNITED HOSPITAL FUND OF NEW YORK. Financial Statements. February 28, 2018 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors United Hospital Fund of New York: We
More informationCENTRAL BANK OF BAHRAIN
Name of Proposed Licensee CENTRAL BANK OF BAHRAIN Form 1: Application for a License (Application for a license to carry out regulated insurance services in the Kingdom of Bahrain) Form 1: Application for
More informationPURE INDUSTRIAL REAL ESTATE TRUST
Financial Statements of PURE INDUSTRIAL REAL ESTATE TRUST Years Ended December 31, 2011 and 2010 KPMG LLP Chartered Accountants PO Box 10426 777 Dunsmuir Street Vancouver BC V7Y 1K3 Canada Telephone (604)
More informationMiddle-East Global Distribution Update: Navigating Promotion, Distribution and Registration Issues
@KLGates 13 December 2017 Middle-East Global Distribution Update: Navigating Promotion, Distribution and Registration Issues Natalie Boyd, Partner, K&L Gates LLP London/Dubai Copyright 2017 by K&L Gates
More informationMD Family of Funds 2016 ANNUAL FINANCIAL STATEMENTS
MD Family of Funds 2016 ANNUAL FINANCIAL STATEMENTS A Message About Your Financial Statements Dear MD Family of Funds Investor: As part of our commitment to keeping you informed about your MD fund investments,
More informationQuick facts St. James s Place Unit Trust Group Limited. BlackRock Investment Management (UK) Limited (external delegation, in the United Kingdom)
PRODUCT KEY FACTS St. James s Place Adventurous International Growth Unit Trust November 2017 This statement provides you with key information about this product. This statement is a part of the Hong Kong
More informationAmerican Realty Capital Hospitality Trust, Inc. Publicly Registered Non-Traded Real Estate Investment Trust*
American Realty Capital Hospitality Trust, Inc. Publicly Registered Non-Traded Real Estate Investment Trust* Courtyard by Marriott Providence, RI Westin Hotel Norfolk/Virginia Beach, VA INVESTING IN Courtyard
More informationSt. James s Place Adventurous Growth Unit Trust
PRODUCT KEY FACTS St. James s Place Adventurous Growth Unit Trust November 2018 This statement provides you with key information about this product. This statement is a part of the Hong Kong offering document.
More informationALUBAF Arab International Bank B.S.C (c) Basel II -Pillar III disclosures As at 31 December 2013
BASEL II PILLAR III DISCLOSURES 31 DECEMBER 2013 1 ALUBAF Arab International Bank B.S.C (c) Basel II -Pillar III disclosures As at 31 December 2013 Table of Contents 1 Introduction 3 2 Corporate Structure
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on 29 December 2017 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1 ( Prospectus
More informationFINANCIAL LINES ACE ELITE PRIVATE EQUITY & VENTURE CAPITAL INSURANCE - PROPOSAL FORM
FINANCIAL LINES ACE ELITE PRIVATE EQUITY & VENTURE CAPITAL INSURANCE - PROPOSAL FORM Instructions to Applicant Completing the Proposal Form Please note that this proposal form is being completed by the
More information(Constituted in the Republic of Singapore pursuant to a trust deed dated 28 November 2005 (as amended)
(Constituted in the Republic of Singapore pursuant to a trust deed dated 28 November 2005 (as amended) ACQUISITION OF 50.0% INTEREST IN 8 EXHIBITION STREET, MELBOURNE, AUSTRALIA 1. INTRODUCTION The Board
More informationC API TA L. Executive Summary. ENTO F&B Private Equity Fund DIFC Close-Ended Exempt Fund Regulated by the DFSA
C API TA L Executive Summary ENTO F&B Private Equity Fund DIFC Close-Ended Exempt Fund Regulated by the DFSA Related Parties Fund Manager C API TAL Fund Administrator External Valuer Auditor Investment
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event
More informationMANULIFE INVESTMENT U.S. EQUITY FUND
Product Highlights Sheet dated 30 June 2017 MANULIFE INVESTMENT U.S. EQUITY FUND RESPONSIBILITY STATEMENT This Product Highlights Sheet has been reviewed and approved by the directors and/or persons approved
More informationSt. James s Place Unit Trust Group Limited. Magellan Asset Management Limited (external delegation, in Australia) Class H Accumulation Units: 2.
PRODUCT KEY FACTS St. James s Place International Equity Unit Trust July 2018 This statement provides you with key information about this product. This statement is a part of the Hong Kong offering document
More informationJPMORGAN FUNDS - JAPAN EQUITY FUND Product Type Investment Company Launch Date 16 November 1988 Management Company JPMorgan Asset Management (Europe)
Prepared on 29 December 2017 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1 ( Prospectus
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on 29 December 2017 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1 ( Prospectus
More informationPrivate Real Estate Funds
What They Are, How They Work There are various types of private real estate funds. Understanding the basic structure can help mitigate against associated risks. The information contained in this white
More information(Constituted in the Republic of Singapore pursuant to a trust deed dated 19 January 2006 (as amended)) ANNOUNCEMENT
(Constituted in the Republic of Singapore pursuant to a trust deed dated 19 January 2006 (as amended)) ANNOUNCEMENT ACQUISITION OF A HOTEL PROPERTY IN NEW YORK, UNITED STATES OF AMERICA 1. INTRODUCTION
More informationAl Salam Bank-Bahrain B.S.C.
INTERIM CONDENSED CONSOLIDATED FINANCIAL INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (reviewed) (Reviewed) (Audited) 31 March 31 December Note ASSETS Cash and balances with banks and Central
More informationSukuk Issuance Trends
Sukuk Issuance Trends IIFM Seminar on Islamic Finance: Sukuk and Islamic Trade Finance Prospects and Challenges 5 th December 2016, ART Rotana Hotel, Amwaj Islands, Bahrain Ismail E. Dadabhoy Adviser IIFM
More informationJDRF INTERNATIONAL. Financial Statements. June 30, 2013 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154 Independent Auditors Report The Board of Directors JDRF International: We have audited the accompanying
More informationAl Salam Bank-Bahrain B.S.C.
INTERIM CONDENSED CONSOLIDATED FINANCIAL (Reviewed) INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (reviewed) (Reviewed) (Audited) 30 September 31 December Note BD '000 BD '000 ASSETS Cash and balances
More informationComparison of Bermuda, Cayman Islands, British Virgin Islands and Mauritius Funds
Comparison of Bermuda, Cayman Islands, British Virgin Islands and Mauritius Funds Preface This publication has been prepared for the assistance of those who are considering the formation of a fund in an
More informationAl Salam Bank-Bahrain B.S.C.
INTERIM CONDENSED CONSOLIDATED FINANCIAL (Reviewed) INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (reviewed) (Reviewed) (Audited) 30 June 31 December Note BD '000 BD '000 ASSETS Cash and balances
More informationCP#32-08 Investment Policy
Investment Policy Approved: 07/19/08 Revised: 5/11/2017 Charter of the ICC Investment Management Program Committee 1.0 Introduction: The Board of Directors of The International Code Council, Inc. (the
More informationArcapita Investment Management B.S.C. (c)
SHARI'AH SUPERVISORY BOARD REPORT, REPORT OF THE BOARD OF DIRECTORS, INDEPENDENT AUDITORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 بسم هللا الرحمن الرحيم Shari ah Supervisory Board
More informationBlackRock Cash Fund. Objectives and Investment Policy. Risk and Reward Profile KEY INVESTOR INFORMATION. Class OS Accumulating GBP
BlackRock Cash Fund Objectives and Investment Policy KEY INVESTOR INFORMATION This document provides you with key investor information about this Fund. It is not marketing material. The information is
More informationCENTRAL BANK OF BAHRAIN
CENTRAL BANK OF BAHRAIN Form LP 2: GP Application Form (Application for an Approval to become a General Partner for an Investment Limited Partnership) Form LP 2: GP Application Form Table of Contents Date
More informationJDRF INTERNATIONAL. Financial Statements. June 30, 2016 and 2015
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors JDRF International: We have audited the
More informationCOUNTERPOINT GLOBAL BALANCED FUND
COUNTERPOINT GLOBAL BALANCED FUND Supplement to the Prospectus dated 20 May 2016 for Sanlam Global Funds plc (a Retail Investor Alternative Investment Fund) This Supplement contains specified information
More informationSt. James s Place Unit Trust Group Limited. Majedie Asset Management Limited (external delegation, in the United Kingdom)
PRODUCT KEY FACTS St. James s Place UK Growth Unit Trust July 2018 This statement provides you with key information about this product. This statement is a part of the Hong Kong offering document. You
More informationCANCER CARE, INC. Consolidated Financial Statements and Schedules. June 30, 2018 and (With Independent Auditors Report Thereon)
Consolidated Financial Statements and Schedules (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Trustees Cancer Care,
More informationRECM GLOBAL FLEXIBLE FUND (Class E) Minimum Disclosure Document - Period ended 30 June 2018
RECM GLOBAL FLEXIBLE FUND (Class E) FUND FACTS Portfolio Manager ASISA Sector Fund Launch Date Inception Date (Class E) Total Fund Size Fund Size (Class E) Min. Investment (Lump Sum) Min. Investment (Monthly)
More informationGUIDE TO FUNDS IN THE ISLE OF MAN
GUIDE TO FUNDS IN THE ISLE OF MAN CONTENTS PREFACE 1 1. Constitutional Position 2 2. Flexibility of Legal Form 2 3. Regulatory Environment 3 4. Categories of Fund 3 5. Fund Taxation 8 PREFACE The Isle
More informationAMB DIVIDEND TRUST FUND
AMB DIVIDEND TRUST FUND RESPONSIBILITY STATEMENT This Product Highlights Sheet has been reviewed and approved by the directors or authorised committee or persons approved by the Board of Amanah Mutual
More informationENDOWMENT PRODUCT BROCHURE
OASIS CRESCENT PROPERTY ENDOWMENT POLICY ENDOWMENT PRODUCT BROCHURE OASIS CRESCENT PROPERTY ENDOWMENT POLICY Fund Manager Adam Ebrahim Launch Date 3 December 2015 Risk Profile Medium Benchmark CPI Rate
More informationQE Index ETF (QETF) ARTICLES OF ASSOCIATION. * Terms & Conditions Apply
QE Index ETF (QETF) ARTICLES OF ASSOCIATION * Terms & Conditions Apply INDEX Article # Article Title Article Page Article # Article Title Article Page 1st Article 2nd Article 3rd Article 4th Article 5th
More informationThe DFSA Rulebook. Collective Investment Rules (CIR) CIR/VER23/12-18
The DFSA Rulebook Collective Investment Rules (CIR) Contents The contents of this module are divided into the following chapters, sections and appendices: PART 1: INTRODUCTION... 1 1. APPLICATION AND INTERPRETATION...
More informationJDRF INTERNATIONAL. Financial Statements. June 30, 2012 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors JDRF International: We have audited the
More informationKENANGA ISLAMIC BALANCED FUND
KENANGA ISLAMIC BALANCED FUND RESPONSIBILITY STATEMENT This Product Highlights Sheet has been reviewed and approved by the directors or authorized committee or persons approved by the Board of Kenanga
More informationSociété Générale Marocaine de Banques SUMMARY OFFER PROSPECTUS ISSUANCE OF A LISTED AND UNLISTED SUBORDINATED BOND
Société Générale Marocaine de Banques SUMMARY OFFER PROSPECTUS ISSUANCE OF A LISTED AND UNLISTED SUBORDINATED BOND BY SOCIÉTÉ GÉNÉRALE MAROCAINE DE BANQUES MAXIMUM ISSUE AMOUNT: 800,000,000.00 MAD MATURITY
More informationABRIDGED PRE-LISTING STATEMENT REGARDING THE INWARD LISTING OF NEW FRONTIER ON THE JSE
New Frontier Properties Ltd (Incorporated in the Republic of Mauritius on 5 June 2014) (Registration number 123368C1/GBL) SEM share code: NFP.N000 JSE share code: NFP ISIN: MU0453N00004 ( New Frontier
More informationJadwa REIT Saudi Fund
Jadwa REIT Saudi Fund Teaser January 2018 Real Estate Public Markets Private Equity Investment Banking Investment Management Advisory Offering Summary Net Yield 7.30% Size SR 1.58bn Quarterly Distribution
More informationCBB Reporting Forms Appendix BR-9 Agreed Upon Procedures External Auditor s PIRI Review Letter
Central Bank of Bahrain Rulebook Volume 2: Islamic Banks CBB Reporting Forms Appendix BR-9 Agreed Upon Procedures External Auditor s PIRI Review Letter [Insert date PRIVATE AND CONFIDENTIAL Mr XX XXXX
More information