- The SNB Capital Saudi Nomu Market Fund provides investors with access to the Nomu parallel market without needing to meet the 'Qualified Investor' criteria
- The open-ended public equity fund invests primarily in a diverse array of equities listed on the Nomu parallel market and Shariah-compliant opportunities on the Saudi capital market.
- The new fund is now open for subscription and is designed for retail investors aiming for substantial long-term capital growth
RIYADH, Saudi Arabia – November 3, 2024: SNB Capital has launched the SNB Capital Saudi Nomu Market Fund, providing retail investors with access to the Nomu parallel market without having to meet the 'Qualified Investor' criteria.
Now open for subscription through the SNB Capital digital channels, this open-ended public equity fund is designed for retail investors aiming for substantial long-term capital growth and will strategically invest in a diverse array of equities listed on the Nomu parallel market, allowing investors to benefit from a diversified allocation across stocks and sectors.
The Saudi Nomu market has historically delivered exceptional performance, listing more than 80 new companies over the last three years and delivering a more than 48% Compound Annual Growth rate over 2019-2024 – outperforming the Main Market (TASI) by almost 40% over the same period.
In line with the Kingdom's objectives to advance the financial sector, the Nomu-Parallel Market was initiated to streamline small and medium-sized enterprises' (SMEs) access to the financial markets. This platform offers SMEs reduced listing requirements, preparing them for a seamless transition to the main market as they mature. The Capital Market Authority is actively refining the regulatory frameworks of the parallel market, aiming to boost the number of new listings, enhance market liquidity, and generate lucrative investment opportunities for investors in this burgeoning sector.
Commenting on the fund launch, Khaled Al Braikan, Head of Asset Management at SNB Capital said, “At SNB Capital, we are committed to developing and launching products that enable investors to capitalize on investment opportunities that support the necessary diversity for achieving returns and balancing risks over the long term. With the introduction of the SNB Nomu Equity Fund, our goal is to facilitate investors' access to promising investment opportunities in the Nomu market without the need to fulfill the usual qualification requirements for investment.”
The subscription for the initial offering of the 'SNB Capital Saudi Nomu Equity Fund' is now available through the SNB Capital app, with a minimum subscription starting at SAR 5,000, open to all categories of investors.
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