Lehman’s Demise Delays Shariah Fund Launch

Sep 18 2008 | 11:45am ET

The collapse of Lehman Brothers has put on hold the launch of a new Shariah-compliant fund of hedge funds.

Amiri Capital has had to shelve plans to launch the Amiri Equity Alternative Strategies fund, for which it had lined up Lehman as prime broker, this summer. But the firm said it will “definitely go ahead” with the launch once a new prime broker is found, but gave no time frame for its debut, Thomson Investment Management News reports.

The Amiri fund’s system was developed in conjunction with Lehman, which had agreed to a system of “promise notes” to get around Islamic law’s ban on short selling.

Amiri said it is in talks with two or three possible prime brokers.

 


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of