Global launches Al-Durra Fund
Global Investment House has introduced a new tool for investors, Al-Durra Fund, aiming to invest in Islamic companies listed in the Global Islamic Index, and in Islamic companies soon to be listed on the Kuwait Stock Exchange (KSE).
The fund, which is the fifth local fund, seeks capital growth through investing in Sharia’a-compliant local shares. The fund strategy is to take part in opportunities within the listed Islamic companies in the KSE that are representative of the Global Islamic Index, as well as unlisted Islamic companies expected to be listed on the KSE, Islamic funds, and cash instruments in line with the Islamic Sharia’a.
Al-Durra Islamic Fund is an open-ended fund with expected capital between five to 100 million Kuwait dinars ($339 million), with a minimum investment of 1,000 units, each worth one dinar. — (menareport.com)
© 2004 Mena Report (www.menareport.com)