Saudi-Listed Alkhabeer Capital To Delist Growth and Income Traded Fund

Saudi Arabia’s Alkhabeer Capital is planning to cancel the listing of the Alkhabeer Growth and Income Traded Fund on the Saudi Exchange (Tadawul) main market.

The fund’s Board of Directors has approved the fund manager’s recommendation to delist the fund and convert it into an open-ended public fund, Alkhabeer confirmed on Thursday.

The move is in line with goals to protect the "best interests" of investors, Alkhabeer said without providing further explanation.

The fund is an investment vehicle designed to provide a mix of capital growth and income for investors.

The decision to delist it is still subject to review and approval from the Capital Market Authority (CMA) and approval from the unitholders of the fund.