ASK Magnificent Seven

The Magnificent Seven (MAGS7) mandate aims to provide long term capital appreciation by investing substantially in seven (7) biggest stock in US, (“Magnificent 7”) which are Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla and seeks to provide qualified investors with investment results that closely correspond to the performance of Magnificent 7 market price, before fees and expenses.

The Mandate aims to track the value of Magnificent 7 stocks. The Mandate does not seek to outperform the Magnificent 7 market but to replicate its price movements as closely as possible, offering investors efficient and regulated access to Magnificent 7 exposure within a structured investment vehicle.

The Mandate will invest at least 80% of its NAV in MAGS7 stocks on Nasdaq Exchange and/or other trading platforms as approved by the Shariah Adviser, with the remainder of its NAV invested in Islamic money market instruments and Islamic deposits.

To achieve its investment objective, the Mandate may also invest in Islamic collective investment schemes that have similar investment objective with the Mandate.

The Mandate may use Islamic derivatives to hedge or protect the value of the Mandate’s assets during adverse market, economic or any other conditions.

Remark : Annual Target Return for MAGS7 is not committed as this is a capital yield appreciation mandate. Target Annual rate of 8% is the minimum target yield for capital gain.