Navis Al-Bahhar Fund
Navis has managed Shariah-compliant parallel private equity funds since November 2001 and public equity funds since November 2007. Al-Bahhar is managed by the Navigator investment team and employs the same investment approach as Navigator with a filter for compliance with Islamic investment principles. The overlap with Navigator is high, about 90%, as Navigator itself does not invest in prohibited industries and seeks companies with low leverage.
Similar to the Navis Asia Navigator Fund, the Al-Bahhar’s Fund applies “a private equity approach to investing in public equity”, building on Navis’ firm wide beliefs. It is based on extensive bottom-up fundamental research on sectors, companies and their competitive environment, management depth and trustworthiness. We leverage Navis Capital’s broader platform to develop unique insights on our companies as a mechanism to generate alpha.
The Fund targets roughly 15 investment positions (including cash) at any given time. Country weightings may vary for we continually seek diversification in terms of region, industry and currency.
Navis’ Islamic parallel funds are advised by Navis’ longstanding Shariah business partner, Guidance Investments, and supervised by Guidance Investments’ internationally recognized Board of Scholars. Fund structures, documentation and portfolio company activities are compliant with Shariah principles, as interpreted by the Supervisory Board. Guidance Investments is part of Guidance Financial Group – an international financial services company dedicated to addressing unmet needs in the Islamic finance market.
Since its inception in 2007, the Al Bahhar Fund (including its predecessor closed ended fund) has increased by 144%, outperforming the MSCI Asia ex-Japan Islamic index which increased 30% over the same period (as of 31 March 2018).
Fund Structure and Terms
- Navis Al-Bahhar Fund consists of a Cayman Islands domiciled, Master/Feeder structure with separate feeder funds for US and non-US Investors
- Manager’s commissions are subjected to benchmarks achieved and a minimum performance trigger
- The fund is open ended with monthly net asset valuations and subscriptions
- Redemptions are quarterly and subjected to a 60 days’ notice, with prudential limitations
- There are no entry or exit fees
OTHER PUBLIC EQUITY FUNDS
Navis Jockey Fund
The following portfolio is a listed equity approach to private equity
Navis Asia Navigator Fund
The following portfolio helps maximize equity returns for companies that are undervalued by the market
Navis Yield Fund
The following portfolio approaches companies with a steady growth curve, with capital appreciation upside