Friday, 19 September 2014
Last updated 12 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.