Abu Dhabi's Waha Capital unveils income focused Islamic fund | ZAWYA MENA Edition:
Abu Dhabi-based investment company Waha Capital has launched an open-ended, Shariah-compliant, income generating Islamic fund.
The new fund - Waha Islamic Income Fund SP – will invest in Shariah-compliant assets across sukuk and equity markets and is expected to attract more than $500 million.
Amr AlMenhali, CEO of Waha Capital, said: “While our existing funds have some Shariah-compliant elements in them, there has been a steadily growing demand from our existing clients over the past couple of years for us to develop such a fully-fledged Islamic fund.”
“The new fund will be well received because it avoids investment in prohibited or controversial activities or assets and business sectors that may be considered as particularly risky or potentially volatile. It will also only invest in entities that have relatively low gearing,” AlMenhali added.
No comments:
Post a Comment