U.K. Firm Preps Sharia Hedge Fund

Nov 13 2008 | 12:24pm ET

Amiri Capital will launch a sharia hedge fund next year to tap into the increasing number of investors looking for for alternative Islamic investments.

Amiri, backed by activist investor Olivant, plans to bring its sharia hedge fund to the market in early 2009, after the collapse Lehman Brothers, which had been lined up to act as prime broker, forced it to delay the launch, The Guardian reports.

“There is a growing number of investors who needs that asset class, alternative investments,” said Amiri director Iqbal Asaria, in an interview. “They find themselves at a competitive disadvantage.”

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