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Shuaa Capital, the region’s leading asset management and investment banking platform, has launched three new Shariah-compliant funds, bringing its assets under management (AUM) to US$200 million.
Shuaa GMC is also committed to launching three additional funds under ICC in the first quarter of 2023 and expects AUM under the product platform to exceed US$400 million.
As part of its new fund pipeline, Shuaa also plans to add Saudi Arabia and GCC-focused funds to its ICC platform. The expansion of ICC fund distribution is in line with Shuaa’s strategy to diversify and broaden its recurring fee income base.
Funds under the ICC
The funds are part of the Incorporated Cell Company (ICC), located in Abu Dhabi Global Market (ADGM) and managed by Shuaa GMC Limited, a wholly-owned regulated subsidiary of Shuaa.
Shuaa established the ICC fund structure at ADGM in 2020, launched a differentiated fund strategy under the ICC platform, and has since launched five funds, including three new funds recently under the ICC fund structure.
New Funds, Including Shuaa Global Sukuk Fund, Shuaa Global Equity Fund and Shuaa North America Equity Fund, Will Expand Choices for Institutional High Net Worth Individuals and Corporate Investors and Will Offer More Investment Opportunities to Diversify Investments Across Regions and asset classes.
Shariah Compliant Stocks
Shuaa Global Sukuk Fund will seek to maximize medium to long-term total return through a combination of capital growth and income by investing in Sukuk and other Shariah-compliant debt instruments. The Shuaa Global Equity Fund will invest primarily in global Shariah-compliant equities, while the Shuaa North America Equity Fund will focus on North American Shariah-compliant equities.
Shuaa GMC is also the investment manager of the first two Shariah-compliant open-end funds, Nujoom Aggressive Fund and Nujoom Balanced Funds, launched under the ICC umbrella in November 2020.
Ajit Joshi, Managing Director and Head of Public and Private Markets at Shuaa Capital, said: “We continue to see strong investor demand for Shariah-compliant investments, and our uniquely structured managed funds under the ICC framework offer investors more opportunities to diversify their investments across key geographies and regions.”
Fawad Tariq Khan, Group CEO of Shuaa Capital, said: “We have demonstrated our expertise in developing and managing investments designed to create long-term value for investors, and we believe these new funds will also satisfy investors in a changing market .”– trade arab news agency
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