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The new funds will expand the choices available to institutional HNWIs and corporate investors. Image Credit: Shutterstock

Asset management and investment banking platform SHUAA Capital has launched three new Sharia-compliant funds, domiciled in Abu Dhabi Global Market (ADGM).

The new funds, which include SHUAA Global Sukuk Fund, SHUAA Global Equity Fund, and SHUAA North America Equity Fund, will expand the choices available to institutional high net worth individuals and corporate investors, and will provide additional investment opportunities to diversify their investments across geographies and asset classes.

SHUAA Global Sukuk Fund will seek to maximise total return over the medium to long term through a combination of capital growth and income by investing in sukuk and other Sharia-compliant debt instruments. SHUAA Global Equity Fund will primarily invest in global Sharia-compliant equities, and SHUAA North America Equity Fund will focus on North American Sharia-compliant equities.

The funds will be managed by SHUAA GMC, a wholly-owned subsidiary of SHUAA, which now has over $200 million in assets under management.

Ajit Joshi, MD and Head of Public & Private markets at SHUAA Capital, said: “We continue to see flourishing investor demand for Sharia-compliant investments and our uniquely structured managed funds under the ICC framework provide investors with more opportunities to diversify their investments across prime geographies and regions.”

Commenting on the launch of the new funds, Fawad Tariq Khan, Group CEO of SHUAA Capital, said: “Having demonstrated our expertise in developing and managing investments that are uniquely designed to create long-term value for investors, we are confident that these new funds will also meet the needs of investors in ever-changing markets.”