Islamic Ijara Fund VIII
Fund Facts
| Legal Structure: | Close-ended Fund |
| Inception Date: | 29 November 2007 |
| Fund Term: | 5 years with 2 one year extensions. |
| Curency: | US Dollar |
| Initial Subscription Price: | US$ 10.00 per Unit. |
| Minimum Investment: | US$ 175,000 with multiples of US$ 10,000 thereafter. |
| Distributions: | 57 to 81 monthly lease distributions starting from the Closing Date. Capital repayment at maturity or 40% at year 5, 30% at year 6 and the remainder at the end of year 7 if the Fund Term is extended. The rate will be revised up or down annually by 30% of the change in the yield of the US Treasury Note. The rate will not be below 7% throughout the life of the Fund. |
| Sales Charge: | A one-time fee of up to 2.00% upon subscription. |
| Management Fee: | 1.25% p.a. on the Fund's capital payable quarterly. |
| Investment Advisor: | Wafra Investment Advisory Group, Inc., New York. |
| Fund Manager: | Wafra Capital Partners L.P., Cayman Islands. |
| Shariah Advisor: | A Shariah Board headed by Dr. Mohamed A. Elgari, Sheikh Yusuf Talal Delorenzo and Sheikh Nizam Yaquby. |
| Distributor: | National Bank of Kuwait S.A.K. |
| Auditor: | Eisner LLP, New York. |
| Domicile of the Fund: | Cayman Islands |