Sun, Sep 21, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Category | Funds more

Gulf sukuk investment funds grow, but liquidity is problem

Posted on 25 June 2012 by Laxman  |  Email|Print

Gulf investment funds dedicated to sukuk are increasing in size and number, but the growth spurt may not be enough to solve the concentration and liquidity issues facing the Islamic bonds market.
Assets of sukuk funds based in the Gulf now exceed $500mn, a 31% increase since last year, according to Reuters calculations based on data from fund companies. This remains small compared to the total Islamic bonds market; global sukuk issuance was $86bn in 2011, and $43bn in the first quarter of this year, according to Thomson Reuters data………………………………………..Full Article: Source

Gulf sukuk funds grow but liquidity is problem

Posted on 22 June 2012 by Laxman  |  Email|Print

Mark WattsGulf investment funds dedicated to sukuk are increasing in size and number, but the growth spurt may not be enough to solve the concentration and liquidity issues facing the Islamic bonds market.
Assets of sukuk funds based in the Gulf now exceed $500 million, a 31 percent increase since last year, according to Reuters calculations based on data from fund companies. This remains small compared to the total Islamic bonds market; global sukuk issuance was $86 billion in 2011, and $43 billion in the first quarter of this year, according to Thomson Reuters data………………………………………..Full Article: Source

Fears over pensions fund’s risky sukuk investment

Posted on 18 June 2012 by Laxman  |  Email|Print

PAS has demanded an explanation from the government over the move to allow pensions fund, Retirement Fund (Incorporated), or KWAP, to subscribe some RM1.5 billion worth of Malaysian Airlines’ perpetual bonds, or what are known as junior sukuk.
Its Research Centre director Dr Dzulkefly Ahmad questioned how such a risky investment by KWAP could be allowed to take place using pension funds belonging to the public………………………………………..Full Article: Source

MAS sukuk bonds: Why touch pensioners’ fund?

Posted on 18 June 2012 by Laxman  |  Email|Print

Why did the Board of Directors of the civil service pension fund (KWAP) pick-up the entire RM1 billion worth of MAS’ first issue of its perpetual sukuk (bonds) when the airline company is deeply in debt? Malaysian Airlines System (MAS) recently announcement a historic loss of RM2.52 billion for the financial year end 2011.
The governmet-linked company is now in crisis. Slamming KWAP’s decision as yet another ‘bailout’ by the government, PKR Sabah secretary Dr Roland Chia Ming Shen said the move “will end up causing massive loss to the hard earned pensioners money.”……………………………………….Full Article: Source

Islamic fund to lift food supply without land grab

Posted on 13 June 2012 by Laxman  |  Email|Print

Islamic investors, some of which have attracted controversy for snapping up swathes of farmland abroad, are turning to the likes of logistical and silo efficiency to ease food shortages through a $600m fund.
The Saudi Arabia-based Islamic Corporation for the Development of the Private Sector (ICD) on Tuesday launched a food and agribusiness fund in which it said it was already “receiving strong interest from several target investors”……………………………………….Full Article: Source

Islamic Corporation starts $600 mln agriculture, farm fund

Posted on 13 June 2012 by Laxman  |  Email|Print

The Islamic Corporation for the Development of the Private Sector, a member of the Jeddah-based Islamic Development Bank group, started a $600 million agriculture and farm fund to promote investments in Muslim nations.
The fund is a partnership between the Islamic Cooperation and a management team advised by Dutch Rabobank Group’s unit Robeco, the Islamic financial institution said……………………………………….Full Article: Source

World Bank seeks investors for MENA fund

Posted on 13 June 2012 by Laxman  |  Email|Print

The World Bank is hoping to raise a $500 million fund to invest in the Middle East and North Africa (MENA), saying that the region’s needs in the wake of the Arab Spring uprisings are more than it can manage itself.
International Finance Corp, a unit of the World Bank, is setting up the fund in addition to the $2.2 billion to $2.4 billion it expects to invest in the region over the next year, aiming to take advantage of a surge in investment opportunities since the Arab Spring, its regional director said. The IFC, along with the Islamic Development Bank (IDB), said in April that it plans to invest up to $100 million on major infrastructure projects across the Middle East and North Africa. ……………………………………….Full Article: Source

Australia: Crescent unveils first Shariah-compliant fund

Posted on 05 June 2012 by Laxman  |  Email|Print

Talal YassineAustralian Muslims will be able to stash their cash with today’s (Tuesday) launch of Crescent Wealth’s first Islamic cash management trust, which hopes to attract up to $100 million during the next few years.
Managing director Talal Yassine said he expected much of the money to come from Australian mosques. “Islamic Australians and institutions have had little choice so far but to put their cash reserves in non-compliant cash trusts,” he said………………………………………..Full Article: Source

Islamic funds seek socially responsible plan

Posted on 04 June 2012 by Laxman  |  Email|Print

The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first.
The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which brought SRI into the mainstream………………………………………..Full Article: Source

Islamic funds seek socially responsible roadmap

Posted on 01 June 2012 by Laxman  |  Email|Print

The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first.
The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which brought SRI into the mainstream………………………………………..Full Article: Source

Islamic compliant ETF firm seeks investment to build international business

Posted on 01 June 2012 by Laxman  |  Email|Print

Saeid HamedanchiAccording to industry sources, Saeid Hamedanchi, Chief Executive Officer of ShariahShares,is preparing the launch a family of Shariah compliant ETFs on the US and European Exchanges. Founded in 2010, ShariahShares is a California based provider of Islamic Shariah compliant investment products and solutions.
In addition to its core business of ETFs, ShariahShares plans to develop its capabilities to offer Shariah compliant investment management to managed accounts………………………………………..Full Article: Source

Barwa unit closes first Shariah fund in Brazil

Posted on 30 May 2012 by Laxman  |  Email|Print

The First Investor (TFI), the investment banking division of Qatar-based Barwa Bank Group, has announced the closing of the first Shari’ah compliant closed-end income generating fund in Brazil.
The TFI-Hines Brazil Income Real Estate Fund is a joint venture between Barwa bank and US-based Hines International Real Estate Holdings………………………………………..Full Article: Source

BLME Shariah fund delivers the goods

Posted on 29 May 2012 by Laxman  |  Email|Print

The investment grade BLME US Dollar Income Fund, has delivered top percentile performance and is ranked 6 out of 763 funds over 3 years in the US $ Global Money Markets sector, according to Reuters’ fund ranking service Lipper Hindsight.
It is managed by former F&C fund manager, Jason Kabel, and has delivered consistent positive returns since its launch in March 2009………………………………………..Full Article: Source

Is it time for another Shariah ETF?

Posted on 28 May 2012 by Laxman  |  Email|Print

The concept of Islamic finance, banking and economics has gained tremendous popularity of late. It is appreciated and implemented not only in countries where Islam is the dominant religion, but also in non-Islamic nations. The basic premise of Islamic finance, banking and economics is based on ‘hygienic’ ways of doing business as prescribed by the Islamic Law or Shariah.
What is a Shariah Compliant financial product? A Shariah compliant financial product (mutual funds, ETFs etc) is an investment avenue that is fully compliant with the principles of Shariah Law………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Barwa Bank invests in Brazil WTC

Posted on 22 May 2012 by Laxman  |  Email|Print

TFI-Hines Brazil Income Real Estate Fund, a joint initiative of Barwa Bank subsidiary, The First Investor (TFI), and the US-based Hines International Real Estate Holdings, has announced its first seed acquisition by investing in the iconic World Trade Centre complex in Sao Paulo, Brazil.
Launched in March this year, the TFI-Hines Brazil Income Real Estate Fund is the first Shariah-compliant closed-end income generating fund in Brazil, offering investors substantial risk-adjusted returns through high quality, proprietary real estate investment opportunities………………………………………..Full Article: Source

Tharwa funds rank top on Kuwait bourse

Posted on 22 May 2012 by Laxman  |  Email|Print

Tharwa Investment Fund and Tharwa Islamic Fund, leaders in asset management services, have achieved top positions for their performance since the beginning of 2012 on the Kuwait Stock Exchange.
As for Tharwa Islamic Fund, which invests in Sharia-compliant companies, the fund’s investments are distributed as follows: 31.95 per cent in the banking sector, 19.06 per cent in the industrial sector and 13.06 per cent in the services sector as at the end of April………………………………………..Full Article: Source

Dubai fund says no bond issue this year

Posted on 21 May 2012 by Laxman  |  Email|Print

The Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth arm, has no current plan to issue a bond this year and will likely pay off a $2 billion loan that is due next year, the fund’s CEO said.
‘ICD at the moment does not have any liquidity requirement,’ Mohammed al-Shaibani told Reuters in an interview on Friday on the sidelines of the Sarajevo Business Forum organised by the fund’s subsidiary in Bosnia………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Islamic funds industry reaches $58bln at end of 2010

Posted on 21 May 2012 by Laxman  |  Email|Print

The Islamic funds industry grew to $58 billion, achieving a growth of 7.6% in 2010, according to Ernst and Young report.
As the Islamic finance industry continues to be one of the fastest growing components of the global financial system, with an estimated growth rate of 15% – 20%, international markets are witnessing an expanding demand for Islamic financial products and services – even beyond the traditional markets of South East Asia and the Middle East……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Saudi Bank Al Bilad’s invest arm launches local equity fund

Posted on 14 May 2012 by Laxman  |  Email|Print

Saudi Arabia’s Al Bilad Investment Co., or ABIC, the investment banking arm of shariah-compliant Bank Al Bilad, has launched an Islamic fund for investment in the shares of local companies, Saudi-based Al Riyadh daily reports Saturday.
The fund’s aim is to generate capital and income growth over the medium and long terms, Ayham Al Yousef, chief executive of Al Bilad Investment, said, according to the daily………………………………………..Full Article: Source

HDC, IDB to set up halal investment fund

Posted on 14 May 2012 by Laxman  |  Email|Print

The Halal Industry Development Corporation (HDC) is in discussion with the Islamic Development Bank (IDB) to set up a halal investment fund.
Its focus will include to finance the development of agriculture businesses especially for IDB member countries. An MoU was signed recently between the two parties to set the ball rolling, HDC chief executive officer Datuk Seri Jamil Bidin……………………………………….Full Article: Source

Capital Int’l raises $3 bln emerging markets fund

Posted on 11 May 2012 by Laxman  |  Email|Print

Capital International Private Equity Funds has closed a $3 billion global emerging markets private equity fund, the largest fund of its kind in five years.
The largest private equity fund raised for global emerging markets is the $5 billion Sharia Fund of Funds raised by BMB Capital in 2006, according to Preqin………………………………………..Full Article: Source

NBAD launches Sukuk Income Fund

Posted on 09 May 2012 by Laxman  |  Email|Print

The National Bank of Abu Dhabi (NBAD), has launched its Sukuk Income Fund, a unique product investing in Sharia-compliant investment instruments that offers investors attractive returns with low levels of risk.
The NBAD Sukuk Income Fund is an open-ended and actively managed product targeting a profit rate of 5% based on current market conditions. Any income will be distributed semi annually. It is open to institutional and individual investors who can invest as low as USD500 either through lump sum or regular savings plans………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Islamic funds and investments set to expand its global footprint

Posted on 08 May 2012 by Laxman  |  Email|Print

With key markets for Islamic finance, especially in Asia and the Middle East, now facing escalating infrastructure and development needs backed by solid economic growth, and the outlook for global lending markets still remaining uncertain, Islamic investments will play a key role in funding these multi-billion dollar projects given the fact that the global liquidity pool continues to shrink.
Governments in various key markets are making moves to create a more attractive investment climate for Shari’ah-compliant finance and are forging greater co-operation between each other and multilateral agencies to attract investments, says David McLean, Chief Executive of the World Islamic Funds and Financial Markets Conference. (Press Release)

HSBC Saudi offers Shariah-compliant fund

Posted on 07 May 2012 by Laxman  |  Email|Print

HSBC Saudi Arabia has launched its first sukuk fund, a Shariah-compliant fixed-income product, for the country’s retail market.
Described as having a “medium to high” risk profile, the HSBC Amanah Sukuk Fund, which launched last month, is the first open-ended sukuk fund to be offered by HSBC Group………………………………………..Full Article: Source

Saudi - UK GBP 100 mln Fund closes with first Real Estate transaction

Posted on 03 May 2012 by Laxman  |  Email|Print

Sidra Capital (Sidra), a CMA regulated Shariah compliant financial services company based in Saudi Arabia and Gatehouse Bank (Gatehouse), an FSA regulated UK-based Shariah compliant bank specialising in UK real estate, have announced the first closing of The Sterling United Kingdom Real Estate Fund (SURF) and their first property acquisition in Cambridge, UK at GBP23.55m.
SURF aims to complete purchases in the Shariah compliant commercial real estate in the UK. The Fund will acquire a diverse real estate portfolio which covers the office, retail, logistics, student accommodation and light industrial sectors, to reach its target equity size of GBP 100 million. (Press Release)

Shariah funds: Will they rise and shine?

Posted on 02 May 2012 by Laxman  |  Email|Print

Mutual Fund houses launching specific schemes catering to philosophies propagated by a particular community is an interesting concept that is slowly gaining momentum in the Indian mutual fund industry. Here, I am referring to the Shariah compliant funds that have been introduced in the recent years.
Before getting into more details, let me first give you an idea of what exactly is Shariah compliance………………………………………..Full Article: Source

Muhyiddin launches shariah-compliant SME financing fund

Posted on 25 April 2012 by Laxman  |  Email|Print

Deputy Prime Minister Tan Sri Muhyiddin Yassin launched a RM2 billion syariah-compliant financing fund for small and medium enterprises (SMEs). Muhyiddin said the loan scheme, announced by Prime Minister Datuk Seri Najib Tun Razak in the 2012 Budget, reflects the private sector’s seriousness in supporting the federal government’s efforts to promote economic growth.

The scheme will be managed by 13 Islamic banking institutions with the federal government providing a two per cent rebate of the bank’s profits, he said when launching the scheme at Sekolah Menengah Kebangsaan Datuk Perdana ……………………………………….Full Article: Source

Tata Ethical Fund declares dividend

Posted on 24 April 2012 by Laxman  |  Email|Print

Tata Mutual Fund has announced a dividend of 20% (Rs. 2.00 per unit on Face Value of Rs.10) under the dividend option Tata Ethical Fund. The record date for dividend has been fixed as April 26, 2012.
Tata Ethical Fund is an open-ended equity scheme with an objective to provide medium to long term capital gains by investing in Shariah compliant equity and equity related instruments of well-researched value and growth - oriented companies………………………………………..Full Article: Source

328 GCC funds hold $26.5 bln in assets: Markaz

Posted on 23 April 2012 by Laxman  |  Email|Print

Assets managed by the Gulf’s roughly 100 asset management companies totalled $26.5 billion, held in some 328 funds, as of December 31, 2011, the Kuwait Financial Centre ( Markaz ) has revealed.
The findings are contained in Markaz ’s new report, titled ‘GCC Asset Management & Investment Banking Survey 2012′, released at the weekend. The report takes an in-depth look at the industry across the GCC in terms of assets under management (AUM), number and types of funds managed, top managers across the various markets, fund costs, benchmarks and performance ranking and a number of other parameters………………………………………..Full Article: Source

Indonesia: Indosat to fund expansion with Sukuk sale

Posted on 18 April 2012 by Laxman  |  Email|Print

Indosat, the country’s second-largest mobile phone operator, plans to sell Rp 2.5 trillion ($272 million) in bonds this year to help fund its business expansion plans and refinance debt.
Indosat, which has about 60 million subscribers, plans to sell fixed-rate conventional bonds and Islamic bonds, the company said. Specifically, the company will sell Islamic bonds of the Ijarah type, which investors lease back to the issuers to comply with Islamic law and to avoid receiving interest payments. Ijarah bonds represent the undivided beneficial rights or ownership of the assets held by the trustee on behalf of the investors………………………………………..Full Article: Source

Malaysia: AmInvestment to launch 12 equity funds in 2012

Posted on 18 April 2012 by Laxman  |  Email|Print

AmInvestment Bank Group is looking to launch 12 equity funds this year to achieve the target of increasing its assets under management (AUM) to over RM35 billion by year-end from RM26.9 billion in 2011.
Ng Chze How, director of retail funds (fund management), said: “From the 12 planned for this year, six have been launched, and these have brought our assets under management to RM32 billion.” The company aims to launch a mixture of equity products, from fixed-income funds and retail funds to shariah-compliant funds, Ng said………………………………………..Full Article: Source

Abu Dhabi’s Invest AD eyes Africa growth

Posted on 18 April 2012 by Laxman  |  Email|Print

Abu Dhabi-owned fund Invest AD is betting on its range of investment products to tap growth opportunities in fast-growing Africa, a continent which the state-owned investment firm believes is still undervalued for its potential.
“If you look at Africa, there are opportunities across the board and it’s not as well-defined as in some other more mature markets. So we want to build a suite of products that captures that growth,” Chief Investment Officer David Sanders said……………………………………….Full Article: Source

Islamic banking may attract more funds to India

Posted on 16 April 2012 by Laxman  |  Email|Print

Islamic banking, if allowed, may attract more funds to India, especially in the infrastructure field, says former Indian High Commissioner to Malaysia R.L Narayan. He said with a Muslim population of about 200 million people, the alternative-banking segment had potential in India.
“Islamic banking has gained acceptance not only in Islamic countries but also in other countries, considering the fact that we have huge needs for infrastructure investment (such a system could augur well with the needs),” he said………………………………………..Full Article: Source

Southeast Asian pension funds complain of Sukuk shortage

Posted on 11 April 2012 by Laxman  |  Email|Print

In Malaysia and Indonesia, pension funds’ plans to increase holdings of Sukuk are being stifled by a shortage of investment-grade Sukuk.
Pension funds in the two majority-Muslim countries have a combined total of $192 billion in assets, and its largest pension managers, Malaysia-based Employees Provident Fund and Kumpulan Wang Persaraan (Diperbadankan), Indonesia-based PT Jaminan Sosial Tenaga Kerja (JAMSOS) are demanding more Shari’ah-compliant debt in order to diversify portfolios that must hold investment- grade securities………………………………………..Full Article: Source

Islamic Solidarity Fund for development far short of target

Posted on 05 April 2012 by Laxman  |  Email|Print

An Islamic poverty alleviation fund has attracted just 17 percent of its targeted $10 billion in funding, officials said Wednesday at the annual meeting of the Islamic Development Bank (IDB) in the Sudanese capital.
A resolution expressed its “concern over the wide gap between the initially targeted amount of $10 billion and the announced contributions… only by a number of member countries” in the 56-nation bank, whose members all belong to the Organisation of Islamic Cooperation………………………………………..Full Article: Source

EIIB launches Sukuk fund

Posted on 04 April 2012 by Laxman  |  Email|Print

European Islamic Investment Bank (EIIB) plans to significantly expand the asset management business of Rasmala Investment Bank, said a press statement.
Earlier this year, EIIB completed a strategic controlling investment in Rasmala. Rasmala manages approximately $650 million and has a regulated presence in Saudi Arabia, UAE, Oman and Egypt………………………………………..Full Article: Source

QIB (UK)’s Global Sukuk Plus Fund breaks through the US $200mln mark

Posted on 03 April 2012 by Laxman  |  Email|Print

In March 2012, QIB (UK)’s highly successful EFH Global Sukuk Plus Fund has broken through the US $200million level of assets under management for the first time. This success confirms the clear distance between QIB (UK) fund and other competing funds in the Sukuk marketplace.
The Global Sukuk Plus Fund’s total return since inception has been 21.43%, whilst the annualised return since inception has been 6.21%………………………………………..Full Article: Source

Rasmala launches Shariah fund

Posted on 03 April 2012 by Laxman  |  Email|Print

Rasmala Investment Bank will launch a Sharia compliant fund, as European Islamic Investment Bank (EIIB), which owns a strategically controlling stake, plans to significantly expand Rasmala’s asset management business.
The Rasmala Global Sukuk Fund (RGSF) is a Sharia compliant fund, will be dynamically managed to provide low risk, well diversified capital stability………………………………………..Full Article: Source

NCB Capital to launch four funds in second half of 2012

Posted on 27 March 2012 by Laxman  |  Email|Print

Saudi Arabia’s NCB Capital, the investment arm of the Kingdom’s biggest bank by assets, plans to launch four investment funds this year and target up to 15 percent growth in assets under management, its chief executive said.
Jawdat Al-Halabi said the National Commercial Bank unit, which has SR44 billion ($11.7 billion) in assets under management, will launch the funds in the second half of the year, with two aimed at foreign markets and two domestically focused. “We will launch two new (international) funds … a mix between equities, commodities and sukuk. The initial target for these two open-ended funds would be around $30 million per each and we hope we can raise more,” Al-Halabi said………………………………………..Full Article: Source

EFH Global Sukuk Plus Fund reaches third anniversary

Posted on 26 March 2012 by Laxman  |  Email|Print

EFH Global Sukuk Plus Fund, managed by Dr Aleksandar Devic of QIB (UK), reached its third anniversary on 18 March 2012. The Fund operates under a SICAV-SIF umbrella incorporated in Luxembourg. It was seeded by Qatar Islamic Bank with $30 million and the assets under management are now at $205.5 million.
The fund’s investors include Islamic banks, Takaful companies, corporates and high-net-worth individuals. To the best of our knowledge, it is now the world’s largest global Sukuk fund available to investors………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UCITS tapped for Islamic funds distribution

Posted on 21 March 2012 by Laxman  |  Email|Print

Acritical issue involving Islamic funds is that they are established with domestic investors in mind and are not sellable globally, thus limiting the investor base.
Their success is generally assessed on an individual market basis as they are more popular than conventional funds in markets with large Islamic populations such as Malaysia and Saudi Arabia………………………………………..Full Article: Source

Kenya licenses first ethical Islamic finance fund

Posted on 13 March 2012 by Laxman  |  Email|Print

Stella KilonzoKenya has licensed its first ethical fund, an Islamic fund issued by First Community Bank Capital, a subsidiary of First Community Bank (FCB), one of the two Shariah-compliant banks in Kenya.
The fund is the first to offer a collective investment scheme geared towards ethical investing under Islamic capital markets product range………………………………………..Full Article: Source

Singapore to use Waqf to promote Islamic education

Posted on 12 March 2012 by Laxman  |  Email|Print

The Singaporean government is planning an endowment fund to promote Islamic education in the south-eastern Asian country.
“I am confident that MUIS’s move to create new waqf will pave the way to revive the philanthropic spirit in the community,” Yaacob Ibrahim, Minister-in-charge of Muslim Affairs, told parliament on Thursday, March 8………………………………………..Full Article: Source

Singapore: New Wakaf fund for Islamic education created‎

Posted on 09 March 2012 by Laxman  |  Email|Print

The Islamic Religious Council of Singapore (MUIS) will be creating a new Muslim endowment fund beginning with a capital sum of $3 million for the benefit of Islamic education. This was announced in Parliament by Minister-in-charge of Muslim Affairs Yaacob Ibrahim.
Over the last two centuries, Muslim pioneer philanthropists have created wakaf, or Muslim endowment. The annual income from these wakaf supports the funding of religious and charitable programmes in perpetuity………………………………………..Full Article: Source

Finance House to sign up to Debts Settlement Fund

Posted on 08 March 2012 by Laxman  |  Email|Print

Abu Dhabi’s Finance House will be the ninth financial institution, which will sign up to the Debts Settlement Fund, an initiative launched by the President His Highness Shaikh Khalifa bin Zayed Al Nahyan to bail out Emirati loan defaulters.
Speaking to reporters, after the annual general meeting of the Finance House, its Chairman Mohammed Abdullah Al Qubaisi, said his company “will soon sign an agreement with Debt Settlement Fund.”……………………………………….Full Article: Source

Islamic funds: Plenty of room for growth and product innovation

Posted on 06 March 2012 by Laxman  |  Email|Print

The expanding shariah-compliant investment fund universe has been attracting more and more fans from outside the Islamic world, as their overall volume of capital under management grows and attention shifts to alternative products and asset types not implicated in the post-2008 crisis.
According to the Ernst & Young Islamic Funds and Investments Report 2011, “the Islamic funds industry grew to US$58 billion in 2010, achieving a 7.6% growth. The Islamic fund universe comprises of some 100 fund managers”. With change and development sweeping through the Islamic world, shariah-compliant investing seems only destined to grow further………………………………………..Full Article: Source

Dubai’s Takaful Emarat starts equity fund, CEO Marrouche says

Posted on 06 March 2012 by Laxman  |  Email|Print

Takaful Emarat - Insurance P.S.C., a Dubai-based Shariah-compliant life and health insurance company, started a 20 million Saudi riyal ($5.3 million) equity fund, Chief Executive Officer Ghassan Marrouche said.
“It’s a global equity investment fund that protects 90 percent of the capital,” he said in an interview in Dubai. “The expected annual rate of return is between 3 to 5 percent.” The fund is managed by Riyad Capital, Marrouche said………………………………………..Full Article: Source

Takaful Emarat set to unveil Islamic fund

Posted on 27 February 2012 by Laxman  |  Email|Print

On March 5, Takaful Emarat will unveil the first investment fund conceived and developed in-house, which the company sees as a milestone in its fourth year of operations. All the necessary approvals have been obtained, including the crucial one from the company’s Sharia board.
To be managed by Riyadh Capital, the open-ended fund — with up to 90 per cent of the investor’s funds being guaranteed — has a multi-year tenure. Takaful Emarat currently has more than 70 savings and protection funds on offer, but developed by others………………………………………..Full Article: Source

Al Hilal launches debut Sukuk fund

Posted on 20 February 2012 by Laxman  |  Email|Print

The flagship fixed-income fund’s objective is to generate regular income as well as achieve capital appreciation by investing in globally-diversified Shari’ah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organisations.
The structure of the fund is open-ended and the initial offering period will last for one month beginning February 19, 2012. Investors will be able to allot a minimum subscription of $10,000 at an initial NAV of $10 per unit, representing one of the market’s lowest subscription amounts………………………………………..Full Article: Source

HSBC Saudi Arabia launches Amanah Sukuk Fund

Posted on 20 February 2012 by Laxman  |  Email|Print

The fund aims to provide investors with income-stabilising and potential growth over the medium-to-long term by investing in local and international Sukuks.
The Fund also invests in Shari’ah-compliant money market funds, term deposits and certificates. The performance of the Fund is measured against a composite benchmark which includes HSBC/NASDAQ Dubai Amanah US Dollar Sukuk Index. One of the main features of the fund is the income distribution, whereby earned income will be distributed to customers on a quarterly basis………………………………………..Full Article: Source

banner
September 2014
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728
2930