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

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note