Amanah Finance launches Islamic Global Properties Income Fund
HSBC Amanah Finance has launched the HSBC Amanah Global Properties Income Fund. The real estate investment opportunity, which is approved by the HSBC Shariah Supervisory Committee, aims to provide a high return on investment as well as capital preservation.
HSBC has selected HDG•Mansur Investment Services to manage the Fund so as to provide global investment management to its clients. HSBC Financial Services Middle East is offering investment in the Fund for a minimum amount of $50,000.
The Fund concentrates principally on properties leased on a long-term basis to investment-grade tenants around the world, who will provide the Fund with regular monthly rental payments. It is designed to generate a return before fees of around 8-10 percent per annum that will be payable in cash to its investors.
Over the recommended five to seven years holding period, the Fund expects to generate annualized returns of 10-12 percent before fees, inclusive of capital gains on properties. Redemptions from the Fund are possible on a quarterly basis at adjusted net asset value, once 15 months have elapsed from the commencement of the investment.
HSBC Amanah Finance is the Islamic financial services division of the HSBC Group, responsible for the development of Islamic financial products. Its mission is to ensure that HSBC is a leading provider of value added Islamic financial products and services worldwide.
Headquartered in Dubai the institution has regional representations in London, New York, Dubai, Riyadh and Kuala Lumpur. HSBC Bank Middle East is the largest and most widely represented international bank in the Middle East with 30 branches throughout the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain.
This extensive regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt, and by its associated companies, The Saudi British Bank and British Arab Commercial Bank. In addition to its Middle Eastern network, the Bank has a branch in London and a representative office in Tehran. — (menareport.com)
© 2002 Mena Report (www.menareport.com)