Witter Family Office Preps Shariah Compliant L/S Funds

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.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note