Tuesday, 26 May 2015
Last updated 10 min 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…