Tuesday, 2 June 2015
Last updated 7 hours ago
Mar 31 2010 | 1:14pm ET
Dubai Shariah Asset Management is set to open its year-old fund of hedge funds to outside investors after posting a 41% return last year.
The firm, in which the Dubai Multi Commodity Center owns a 51% stake and New Canaan, Conn.-based Shariah Capital, has garnered interest from Islamic banks from around the Persian Gulf region that wish to offer the fund to their wealthy clients. The fund has a US$5 million minimum investment, The Wall Street Journal reports.
The DSAM Kauthar Commodity Fund current US$260 million are divided into portfolios managed by BlackRock, Lucas Capital Management, Tocqueville Asset Management and Zwieg-DiMenna International Managers. Software developed by Shariah Capital ensures that none of the fund of funds’ investments do not violate Islamic law.
Barclays Capital is the fund’s prime broker and custodian. Citco Fund Services serves as administrator.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…