Dubai-Backed Fund Of Funds Opens Up

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.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...