Old Mutual Preps Shariah-Compliant Hedge Fund

Mar 22 2007 | 1:10pm ET

Old Mutual Asset Managers is to add a Shariah-compliant hedge fund to its lineup next month, it said today. The Old Mutual Al Saqr Fund, Cayman Islands-domiciled vehicle, will launch with a minimum of US$25 million.

The fund will be an equity market-neutral fund, managed by the same team that runs the firm’s $2 billion global equity market-neutral and long/short equity strategies. It will hold between 200 and 300 Shariah-compliant liquid names in developed markets.

“We believe that there is significant and growing demand for funds which meet the specific religious and investment requirements of the Islamic community,” Eoin Murray, OMAM chief investment officer, said. “The Old Mutual Al Saqr Fund has been designed in conjunction with a leading Islamic financial consultant and is fully compliant with Shariah principles.”

The new fund has a minimum investment requirement of US$100,000. Its prime broker is Fimat and the Shariah adviser is Ratings Intelligence.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of