The National Investor manages 1st public Shariah-compliant fund in the UAE
The National Investor (TNI), one of the leading investment firms in the Gulf region, has been appointed Portfolio Manager for the Enmaa’ Fund by 3i Capital Group Corp, the Fund’s Promoter. The primary objective of the fund will be to achieve long-term capital appreciation by investing in tradable securities primarily in the UAE and the Gulf Cooperation Council (GCC) region. The Fund may also invest in non-GCC tradable and non-tradable securities. Furthermore, the Fund may decide to create dedicated indexes or ‘baskets of stocks’ for specific countries or industries to better manage its objectives and mitigate risks.
Investment decisions are made in accordance with Islamic principles. They are depicted by the Dow Jones Islamic Market (DJIM) Index criteria and principles and overseen by the Fund’s Shariah Supervisory Committee. As Portfolio Manager for the fund, the TNI Asset Management Division will also be responsible for Shariah filtering, monitoring and cleansing of the fund’s portfolio. TNI Asset Management will also ensure that strict Shariah compliance guidelines are adhered to as stipulated by the Fund’s Shariah Supervisory Committee.
Commenting on fund’s launch, Dr. Reza Hadizad, the recently-appointed Managing Director of TNI’s Asset Management Division, said: “We are excited to be the portfolio manager for the First Public Shariah Compliant fund in the UAE. As with all our offerings, we will apply the highest standards of Fiduciary responsibility and cutting edge portfolio management techniques to this product”.
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