FALCOM SAUDI EQUITY FUND

Short Term

Fund

Benchmark

Calendar Return

Fund

Benchmark

1) active sector allocation.

2) active security selection.

Fund Benchmark Fund Benchmark Fund Benchmark Fund Benchmark

Cumulative Return -9.70% -7.33% 31.84% 23.20% 25.99% 12.04% 125.27% 18.81%

Standard Deviation 8.97% 8.03% 34.09% 23.19% 28.17% 12.08% 129.12% 18.87%

Sharpe Ratio -1.30 -1.16 0.88 0.91 0.85 0.83 0.95 0.89

Fund Currency Saudi Riyal Treynor Ratio -12.34% -9.33% 31.91% 21.20% 25.76% 10.04% 140.61% 16.81%

Inception Date 6-May-07

Type of Fund Shariah Compliant

Management Fee (p.a.) 1.75% (of N.A.V.)

Participation Fees 1.50% (of subscription amt.)

Participation Day Each business day

Redemption Day Each business day

Valuation Day Each business day

Minimum Participation SAR 10,000

Minimum Balance SAR 10,000

Minimum Additional Participation SAR 5,000

Inception Price SAR 1.00000

Current Price SAR 2.25273

Fund Net Asset Value

Fund Benchmark Tadawul All Share Index

March 31, 2015

SAR 176,465,461.82

PERFORMANCE FUND VS BENCHMARK

1 Year 2 Years 3 Years Since Inception

FUND FACTS

FALCOM SAUDI EQUITY FUND

6.32%

5.35% -7.72%

3 Months

FUND OBJECTIVES

-4.70%

-5.74%

To provide long-term capital appreciation and growth. The Fund

invests in listed equity securities that comply with Shariah-

guidelines and form part of Tadawul All Share Index. FALCOM

Asset Management team of investment professionals seeks to

add value over the Benchmark through:

-19.12%

-2.37%

2015YTD

PERFORMANCE

1 Month

Since Inception

125.27%

18.81%

-10.69%

6.32%

5.35%

2013

39.07%

25.50%

2014

-5.08%

6 Months

-22.83%

9 Months

-

0.50

1.00

1.50

2.00

2.50

3.00

3.50 0

7

07

08

08

09

09

10

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11

11

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15

FSEF

TASI

Fund Benchmark Tadawul All Share Index

Fund Manager FALCOM Financial Services

VERSUS BENCHMARK 1 Year 2 Years 3 Years 4 Years

Alpha -2.37% 8.64% 13.95% 26.31%

Beta 1.0729 1.0600 1.0536 1.0632

R-Squared 94.83% 93.51% 93.14% 91.63%

Information Ratio -0.02 0.05 0.05 0.06

Excess Return -2.45% 9.09% 14.08% 23.75%

Batting Average 48.59% 54.02% 53.61% 53.21%

MANAGER PERFORMANCE STATISTICAL ANALYSIS

SECTORAL ALLOCATION

Since Inception

For more information please call 8004298888 or visit the Website: www.falcom.com.sa

INFORMATION RATIO

BATTING AVERAGE

106.47%

TOP 5 HOLDINGS (Percent to Total Portfolio)

53.09%

0.9662

87.67%

0.06

89.53%

There is no guarantee that the Fund will continue to hold any particular securities or continue investing in any particular sectors. Holdings are subject to change. Investing in the Fund is not a deposit in, or

Banks & Financial Services

9.89%

Petrochemical Industries

27.06%

Cement8.54%Retail

9.78%Telecommunication

5.64%

Insurance0.93%

Industrial Investment15.79%

Building & Construction

17.07%

Hotel & Tourism3.50%

FALCOM Saudi Equity ETF

1.81%

Zamil Industrial Investment Co

Saudi Telecom

Arabian Cement Co

Al Hassan Ghazi Ibrahim Shaker

Saudi Basic Industries Corp

4.84%

5.60%

6.12%

7.58%

9.08%-1.00

-0.75

-0.50

-0.25

0.00

0.25

0.50

0.75

1.00

1 Year 2 Years 3 Years 4 Years Since Inception

Outperform the benchmark

Underperform the benchmark

0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

1 Year 2 Years 3 Years 4 Years Since Inception

Beat The Benchmark

Lag The Benchmark

Excess returns over a benchmark per unit of risk (risk is measured by tracking error).

Higher information ratio (more than or equal zero) shows better risk adjusted return.

Percent of periods during which the portfolio manager outperformed the benchmark.

High batting average shows consistent outperformance over benchmark. Ideally >50%.

Statistical analysis is based on the geometric mean and geometric standard deviation for respective periods.

Ma

y-0

7

Oct

-07

Ap

r-0

8

Se

p-0

8

Ma

r-0

9

Au

g-0

9

Fe

b-1

0

Jul-

10

Jan

-11

Jun

-11

De

c-1

1

Ma

y-1

2

No

v-1

2

Ap

r-1

3

Oct

-13

Ma

r-1

4

Se

p-1

4

Ma

r-1

5

There is no guarantee that the Fund will continue to hold any particular securities or continue investing in any particular sectors. Holdings are subject to change. Investing in the Fund is not a deposit in, or

an obligation of, and is not guaranteed by the Investment Manager. Past performance does not guarantee future results and the Fund remains subject to investment risk.

Listed securities are valued at their closing price, underlying Murabaha transactions are valued at their value as of valuation date, other investments are valued at their book value at valuation date