Global Investment House announced the launch of the ‘Global Islamic Fund of Funds’, an open-ended fund of funds investing in local and international Shari’a compliant funds. The new fund will invest in all types of funds such as equity, real estate, hedge funds and private equity funds compliant with the Shari’a law.

Executive Vice President Sameer Al-Gharaballi said, “The fund’s objective is to provide long term capital appreciation with reduced risk by investing in a diverse basket of Shari’a compliant funds and instruments.”

He added that the fund’s strategy is to invest the majority of its assets in a core of “carefully selected Islamic funds that complement each other in risk and return.”

Miss Badria Al-Humaidhi, Senior Investment Analyst in Global said “There are over 300 Islamic financial institutions operating in 75 countries with combined assets exceeding $300 billion, and an annual growth rate of 15%. Additionally, Islamic funds assets have had a rapid growth in the past decade, their AUM has exceeded $300 billion as of 2006, with a significant amount attributable to the growth of the GCC stock markets.”

The fund has a minimum investment of $25,000 with a monthly subscription frequency and quarterly redemptions after the lockup period.

Global has been tracking Islamic fund managers for over five years and has a vast experience in the Islamic Financial Markets which has resulted in the launching of three Islamic Real Estate Funds; Global GCC Real Estate Fund, Global US Real Estate Fund and Global Asia Real Estate Fund along with a range of Equity funds such as Al-Durrah Islamic Fund and Global Islamic GCC Large Cap Fund, as well as a Money Market fund, Global Islamic Fund.

Global currently manages more than 30 investment funds of varying strategies and investment objectives, with returns exceeding market indices.

Alex Akesson

Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net

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