The King Faisal Specialist Hospital Charity Foundation, known as "Wareef Charity," has been awarded second place for having the second-largest capital for an endowment investment fund in Saudi Arabia. The recognition was presented by the General Authority for Awqaf during the “Nomo Financial Sustainability Forum,” in acknowledgment of the foundation’s "Alinma Wareef Endowment Fund," the first publicly offered and open-ended endowment investment fund in the Kingdom.
Launched in November 2018 through a partnership between Wareef Charity and Alinma Investment Company, the fund serves as a sustainable financing vehicle, enabling individuals and institutions to contribute to healthcare support. Its model focuses on investing the endowment capital, with the financial returns directed toward financing specialized health initiatives, positioning it as one of the most innovative solutions for enhancing the financial sustainability of the non-profit healthcare sector in Saudi Arabia.
The endowment investment fund directly contributes to achieving Wareef Charity’s strategic goals, which include securing sustainable funding for treating patients in need, supporting medical research and healthcare development, promoting preventive health awareness programs, and training specialized healthcare professionals. These efforts align with the broader national objectives of enhancing the role of endowments in supporting vital sectors, particularly healthcare.
According to data published on the Saudi Stock Exchange (Tadawul), the market value of the "Alinma Wareef Endowment Fund" has exceeded SAR 87 million, demonstrating the success of its investment strategy in maximizing endowment returns and channeling them effectively into medical research, treatment programs, and the development of healthcare services at King Faisal Specialist Hospital & Research Centre—ensuring the sustainability of specialized health initiatives.
Endowment investment funds are recognized as structured vehicles for the institutional management and growth of endowments, governed by legal frameworks and specific policies that ensure transparency and effective governance. These funds also fall under the supervision of regulatory bodies, providing a mechanism for diversified investments that maximize the benefits for the endowment’s beneficiaries, founders, and the wider community.