In continuance to the Capital Market Authority's role in developing and regulating the capital market and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, the CMA Board has issued its Resolution approving the Closed-Ended Investment Traded Funds Instructions, and the Instructions shall be effective from its publication date.

Some of the notable provisions are found in stating the unitholder's right to exercise all rights in relation to the units including, but not limited to, the right to vote at meetings of unitholders, beside enabling the investment of a percentage exceeding (10%) of the fund's net assets value in illiquid assets. Moreover, the Authority have taken into consideration a number of the public views , including but not limited to, reducing the minimum amount for the fund's establishment to become SAR (300) million.

And the Instructions can be viewed via the following link:

التعليمات الخاصة بصناديق الاستثمار المغلقة المتداولة

The Closed-Ended Investment Traded Funds Instructions