Emirates Islamic Bank, in its continued efforts to provide a comprehensive range of Shari’a-compliant solutions, has launched the Emirates Islamic Global Balanced Fund.
The Emirates Islamic Global Balanced Fund is a Shari’a compliant investment fund that aims to achieve long-term capital growth through investing in a range of asset classes. The asset classes will include, but will not be not limited to, Murabaha and fixed deposits, Sukuk, equities, property, international trade and finance and other investment opportunities that might be appropriate from time to time. The fund will be managed predominantly on a fund of funds basis. This medium-risk fund will provide adequate diversification to limit short-term volatility.
The Islamic Global Balanced Fund will expose investors to a variety of Shari’a complaint equities, money market instruments, real estate, Sukuk and other Shari’a complaint assets from time to time. Each of these assets in isolation would hold an element of asset-class specific or systematic risk, but by blending them into a balanced multi asset-class portfolio their systematic risks are substantially reduced. Mr. Faisal Aqil, General Manager Retail Banking at Emirates Islamic Bank, said “This open ended fund is designed for investors looking for a range of holdings from a number of different asset managers globally within a single fund structure. This diversification is a key element in risk reduction and this will appeal to the majority of investors. Besides this, the fund assets and transactions are all approved by the Bank’s Shari’a Board, which again gives it a stamp of genuineness and transparency.”
The initial minimum investment in the fund is $25,000. Subsequent investments can be made subject to a minimum of $5,000. In addition to the subscription fee, the fund will charge an annual management fee of 1.5% against the net asset value of the fund.
Emirates Islamic Bank is running a special offer period for subscription during which the price of each unit will be held at $10.00. This offer is valid from March 18th until March 30th.
Issued on behalf of Emirates Islamic Bank by Tamra C2. For further information please contact Suzan Kazzi on Tel. (9714) 2951177; Fax: (9714) 2951188; e-mail: [email protected]
Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari’a-compliant financial solutions and total peace of mind. EIB is headquartered in Dubai offering retail, corporate and investment services throughout the UAE. The bank is driven by a vision to be the leading Islamic bank in the country and to consistently develop new solutions to meet the ever-evolving needs of all its customers
