Dubai leads in Islamic finance with new Shariah hedge fund index

Mena Report – The Dubai Multi Commodities Centre Authority (DMCCA) and Shariah Capital, Inc. (SCAP.L) today announced the Dubai Shariah Hedge Fund Index, the first internationally-recognised index comprised exclusively of Shariah compliant hedge funds.  The Dubai Shariah Hedge Fund Index will be calculated and reported by Thomson Reuters (NYSE:TRI), the global news and financial information organisation. 

The Index reflects the performance of the DSAM Kauthar Commodity Fund, Ltd. (“DKCF”).  DKCF is an equally-weighted fund-of-funds comprised initially of four single- strategy, commodity-focused funds that invest exclusively in Shariah compliant long/short equity hedge funds on the Al Safi Trust platform.  The Al Safi Trust is a comprehensive Shariah compliant platform designed specifically for hedge funds and launched recently by Barclays Capital and Shariah Capital.  Distributed under the DSAM Kauthar label, the four funds underlying the index have been seeded with US$50 million each by DMCCA.

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