Global has launched 'Global Islamic Fund of Funds,' an open-ended fund of funds investing in local and international Shari’a compliant funds.
The fund’s objective is to provide long term capital appreciation with reduced risk by investing in a diverse basket of Shari’a compliant funds and instruments. The fund’s strategy is to invest the majority of its assets in a core of carefully selected Islamic funds that complement each other in risk and return.
The fund will also invest in low risk instruments to reduce the overall volatility of the portfolio. The rest of the fund will be invested opportunistically in new tools or funds that materialize in the future.
The fund’s manager – Global - has teamed up with AlRayah Consultancy to review and confirm that all the underlying managers comply with Islamic Shari’a laws.
The fund aims to diversify its exposure in the global markets to minimize the risks associated with any one market as well as setting risk parameters to ensure that the fund is not overly exposed to any one market or sector. Additionally, the fund may invest in all types of funds similar -but not limited - to Equity, Real Estate, Hedge Funds and Private Equity funds compliant with Shari’a law.
There are over 300 Islamic financial institutions operating in 75 countries with combined assets exceeding US$300 billion, and an annual growth rate of 15%.
As for management style, the fund will enjoy a strong, balanced mix of Global’s expertise in Islamic investments and experience in managing funds of funds.
The fund’s minimum subscription is US$25,000 with a monthly subscription
frequency and quarterly redemptions after the lockup period.
Global has been tracking Islamic fund managers for over five years and has
considerable experience in Islamic Financial Markets which has resulted in the launching
of three Islamic Real Estate Funds: Global GCC Real Estate Fund, Global US Real
Estate Fund and Global Asia Real Estate Fund along with a range of Equity funds
such as Al-Durrah Islamic Fund and Global Islamic GCC Large Cap Fund, as well
as a Money Market fund, Global Islamic Fund.
The Fund’s investment breakdown involves 3 areas which are by type, sector and geography. The breakdown per sector includes Real Estate Funds, Mutual Funds and Fixed Income.
Global says it currently manages more than 30 investment funds of varying strategies and investment objectives, with returns exceeding market indices.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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