In recognition of the outstanding performance of DMCC’s Dubai Shariah Asset Management (DSAM) Commodity Funds in 2009, DMCCA Executive Chairman Ahmed Sultan bin Sulayem was presented with the “Middle East Investor Award” by the Hedge Funds World Middle East Conference 2010. This announcement was made today by Dubai Multi Commodities Authority (DMCCA). In addition, DSAM was also recognised as “Best Shariah Compliant product provider” and DSAM Kauthar Commodity Fund wins “Best Funds of Funds Award.”
Held at the Jumeirah Beach Hotel in Dubai, the 11th Annual Hedge Funds World Awards recognised companies and individuals that have demonstrated an unparalleled ability to succeed and continually set standards of excellence in the hedge fund industry.
“I would like to thank Hedge Funds World Middle East and the award judges for recognising the efforts of DMCC in strengthening Dubai as a commodity trading centre” said Ahmed Sultan bin Sulayem.
“Despite the challenges that we all face, we see DMCC is a shining example of the character of Dubai and the leadership of His Highness. Under whose guidance of His Highness the impossible became possible. It was the creation of Jebel Ali port which led to the exponential rise in the flow of the commodity trade through Dubai directly leading to the establishment of DMCC. In recognition of his leadership and vision, I dedicate this award to NO OTHER than His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prim Minister of the UAE and Ruler of Dubai.”
In addition, DMCCA also received nominations for “Best Hedge Fund Manager” for DSAM Kauthar Global Resources & Mining Fund and “Best Performing New Fund” for DSAM Kauthar Gold Fund, Ltd.
DSAM is a joint venture between Dubai Commodity Asset Management (DCAM), a wholly-owned division of the DMCCA and Shariah Capital, Inc. DMCCA has invested US$50 million into each of the initial four DSAM Kauthar funds as the seed investor, representing a total investment of US$200 million. DSAM manages the DSAM Kauthar Commodity Fund (DKCF) which offers investors exposure to Shariah compliant hedge fund strategies diversified over a range of commodity sectors.
