From Zawya.com: Bank of London and the Middle East (BLME), the totally-Shariah based bank, is currently working on the development of a Shariah-compliant Absolute Return Fund. “We have been watching the whole scenario of active and passive fund management and have been working with a lot of interest on the development of an absolute return fund,” said Nigel Denison, director and head of asset management, BLME, who was in Jeddah for a seminar on Islamic finance recently.
He said that it was in no way a hedge fund, but a reliable way of producing a Shariah-based strategy to positively produce an absolute return regardless of the direction of the market……………………………………….Full Article: Source