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   Top Saudi Arabia Business News     

SAMBA Capital Management International, a wholly owned subsidiary of the Saudi American Bank, recently announced a 10-1 split in units in their SAMBA Luxembourg North American Equity Fund.


Dubai,
UAE
The split was sparked by the Fund's excellent performance since its inception in January 1995.

A 10-1 split means that each investor will receive 10 units for each one owned which adjusts the price per unit down from $4,770/- to $477/-, broadening its appeal to investors. The Fund's lower Net Asset Value makes it a more attractive investment alternative, allowing for larger block purchases.

An investor of $100,000/- in the Fund at inception would have a market value of $477,000/- at the end of November 2000. In October, Micropal, ranked the Fund 20th amongst 165 one-year US Equity funds, 15th out of 103 funds over three-years and 5th of 66, over five years. i

Richard Keigher, Managing Director and Chief Investment Officer, SAMBA Capital Management International said: "Looking forward to next year we are confident of continued optimal results as the course of the US economy and interest rates become clearer."

Ends


Sheila Kaur / Ayad Nahas, Fortune Promoseven, Dubai, UAE
Tel: 00 971 4 266 9686 / Fax: 971 4 269 9805 / Email: ayad@promoseven.com

OR

John Bauer, Samba Capital Management International Ltd
Tel: 00 44 20 765 98267 Fax: 00 44 20 7355 4412
Email: john.bauer@citicorp.com


©Saudia-Online
December 13th, 2000  

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 June 28, 2001 15:43:28