Shuaa GMC Ltd., a subsidiary of UAE's Shuaa Capital, has launched 3 open-ended, Sharia compliant investment funds, with funds attracting $ 75 million upon their launch .
According to Arabnet, the list of these three funds includes the Shuaa High-yield Sukuk Fund, the Active Nojoom Fund and the Nujoom Balanced Fund.
and the distinction of being the first investment funds compliant with Islamic law to be launched on the Abu Dhabi Global Market according to the Integrated Cell Companies (ICC) structure.
It is expected that these funds will constitute one of the largest investment platforms in the Abu Dhabi Global Market and a major source of Shuaa's activities in this market.
Shuaa GMC Ltd. - wholly owned by Shuaa Capital and subject to the supervision of the Financial Services Regulatory Authority of Abu Dhabi Global Market - undertakes the management of these funds, and others. One of the activities of the Shuaa platform for investment funds in the Abu Dhabi Global Market
The SHUAA High Yield Sukuk Fund will invest in a diversified portfolio of Sukuk, including high-yield sukuk and Sharia-compliant fixed income investments, among others. Investment funds approved by specialized Sharia advisors
while the active Nojoom Fund and the Nojoom Balanced Fund will invest in a global portfolio of Sharia-compliant stocks, fixed income investments and short-term, highly liquid investment vehicles.
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, through these three funds, SHUAA aims to provide an outstanding service to its institutional clients and partners in the insurance sector.
and the All Fans Bank, the largest fund marketing network around the world, undertakes the tasks of providing these funds exclusively to qualified institutional investors, which gives institutions operating in the insurance sector Pensions are broader, long-term investment options.
and in implementation of the frameworks adopted by the integrated cell companies ICC, each of the three funds operate independently from the other in terms of assets owned by it and how it applies its investment strategies and practice of its activities .
Therefore, the assets of each fund will be invested for the benefit of its shareholders, and the assets of each fund will be responsible only for the obligations and obligations ...
