Saturday, 23 August 2014
Last updated 1 day ago
Jun 20 2007 | 8:48am ET
Shariah Capital, a U.S.-based advisory and consulting firm, and William D. Witter, a New York family office, recently formed a joint venture that will focus on Witter’s plans to offer Shariah-compliant investment funds to select investors.
Utilizing Shariah Capital’s screens and short-selling strategies, Witter plans to launch Shariah-compliant versions of its Penfield Partners Fund, a long/short equity hedge fund, and Witter Small Cap Growth Fund, a long-only mutual fund, sometime this summer, according to a source with knowledge of the situation. Witter also expects to launch a Shariah-compliant real estate fund focused on residential and commercial properties located in high-growth cities in the Western U.S.
“Increasingly, western investment firms recognize the growing demand for Shariah compliant products, particularly in the Middle East and Asia,” Eric Meyer, chairman and CEO of Shariah Capital, said. “These firms are moving ahead proactively, like Witter today, to access new markets by developing competitive alternatives to their already-successful investment strategies within parameters that accommodate Islamic investors.”
Michael Witter, Witter’s CEO, added, “As a family owned firm, we have a 30-year tradition of providing leading and personalized investment advisory services to high-net worth individuals and institutional clients. With Shariah compliant alternatives to our funds, we now can offer a new dimension of capabilities to our clients around the world.”
Witter was founded in 1977 and is currently headed by Michael Witter, Dean Witter’s grandson.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note