In recognition of its outstanding performance, Dubai Shariah Asset Management (DSAM) Kauthar Commodity Fund was named ‘Best Fund-of-Funds’ at the annual Falaika Islamic Fund Awards. This announcement was made today by Dubai Multi Commodities Centre (DMCC). The annual Falaika Islamic Fund Awards recognises top performers in the global Shariah-compliant investment marketplace.
The DSAM Kauthar Commodity Fund, the first Shariah compliant fund-of-funds of its kind, generated a net return of 41.19 per cent in 2009, leading both the conventional and Islamic fund industries. This is the third award for DMCC’s industry leading fund this year.
The award was received by Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre (DMCC), the seed investor in the DSAM Kauthar Funds. “On behalf of DMCC, I am honoured to receive this award for DSAM Kauthar Commodity Fund’s exceptional performance. This award is a further recognition of DMCC’s pioneering work in Shariah-compliant investment products.”
This year's Annual Failaka Islamic Fund Awards was held in conjunction with the Amanie-Failaka Symposium 2010, a one-day learning experience featuring some of the world's most respected Shariah scholars.
