Wednesday, 4 May 2016
Last updated 7 hours ago
Jul 16 2008 | 11:49am ET
Dubai’s Millennium Finance Corp. is reportedly set to launch its first Shariah-compliant hedge fund to capitalize on increasing demand for alternative investment products that conform to Islamic law.
According to Ahmad Atwan, managing director, Millenium will team up with the world's largest publicly traded hedge fund manager, the Man Group, for the offering, Arabian Business reports.
“It is something that is going to sit very well in the marketplace….. We plan to do a few more Shariah-compliant hedge funds after that,” he said.
Millenium in April held a first close on a pair of Shariah-compliant energy and media private equity funds.