Business | Investment
Family Sharia Fund raises $31.55m
The Family Sharia Fund launched by Bahrain-based asset manager The Family Office Company, has raised $31.55 million in a private placement and plans to list its shares on the Alternative Investment Market (AIM) of the London Stock Exchange
- Staff Report
- Published: 23:16 July 18, 2008
Dubai: The Family Sharia Fund launched by Bahrain-based asset manager The Family Office Company, has raised $31.55 million in a private placement and plans to list its shares on the Alternative Investment Market (AIM) of the London Stock Exchange.
The money will be used to launch a new multi-asset class investment fund providing exposure to Sharia-compliant investments, mainly outside the Gulf region, the company said.
The company expects that trading on AIM of 31,550,000 ordinary shares of $0.01 each is expected to commence on July 25. Its investments will be managed by The Family Office.
"The quotation on AIM will allow investors to participate in the rapidly growing market of Islamic finance. The Family Sharia Fund provides investors with an opportunity to invest in multiple asset classes in accordance with Sharia laws," said Abdul Mohsin Al Omran, CEO of The Family Office.
More from Investment
More from Business
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
