Global Launches New Islamic Fund Of Funds

May 15 2007 | 11:38am ET

Global Investment House has launched the Global Islamic Fund of Funds, an open-ended vehicle investing in local and international Shariah-compliant funds.

The offering’s strategy is to invest the majority of its assets in a core of carefully selected Islamic funds that complement each other in risk and return, according to the firm. It will also invest in low risk instruments to reduce the overall volatility of the portfolio. Additionally, the fund may invest in all types of funds similar to equity, real estate, hedge funds and private equity funds compliant with the Islamic law.

Global has teamed up with AlRayah Consultancy to review and confirm that all the underlying managers comply with the Shariah.

The fund’s minimum subscription is US$25,000 with a monthly subscription frequency and quarterly redemptions after the lockup period.

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