Shuaa Capital on Tuesday announced that the newly-opened funds would bring in assets under management on the firm’s Sharia-compliant policy to more than $200 million
Shuaa Capital announces the launch of new Sharia-compliant funds managed by Shuaa GMC Limited, under the ICC umbrella domiciled in the Abu Dhabi Global Market (ADGM). Shuaa GMC Limited is a wholly-owned regulatory subsidiary of Shuaa. Dubai’s leading asset management and investment banking platform established the ICC (Incorporated Cell Company) fund structure in Abu Dhabi Global Market in the year 2020 to launch differentiated fund strategies under the ICC platform.
The asset management firm on Tuesday announced that the newly-opened funds would bring in assets under management on the firm’s Sharia-compliant policy to more than $200 million. The investment banking firm has also launched five funds which include the present three in compliance with the ICC fund structure. “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,” says Ajit Joshi, Managing Director and Head of Private and Public Markets of the firm.
New Shuaa funds by Shuaa Capital PSC
The newly added funds include Shuaa Global Equity Fund, Shuaa Global Sukuk Fund, and Shuaa North America Equity Fund. The introduction of the funds will provide customers including corporate investors and high-net-worth individuals with extensive choices to choose from, thus broadening their investments across asset varieties and geographical boundaries. Through a combination of income and capital growth, the Shuaa Global Sukuk Fund will aim to maximize total return over the medium to long term by investing in Sukuk and other debt instruments in accordance with Sharia.
The wholly-owned regulatory subsidy of Shuaa is the investment manager of the Nujoom Balanced Funds and Nujoom Aggressive Fund, the first two Sharia-compliant open-ended funds launched under ICC on November 2020. The subsidiary firm is also working to launch three additional funds under the ICC umbrella mostly during the first quarter of 2023, expecting Assets under Management (AuM) under this project platform to exceed $400 million. The subsidiary company has a total of $200 million in assets under management spreading across different funds under the ICC.
The company also plans to add GCC and Saudi Arabia-focused funds to its ICC platforms. Shuaa North America Equity Fund will focus on North American Sharia-compliant equities, and Shuaa Global Equity Fund will primarily invest in global Sharia-compliant equities. The Group chief executive officer of the asset management and investment banking firm, Fawad Tariq Khan stated that the firm had established itself in managing and developing investments that help in creating long-term value for the company’s investors. “We are confident that these new funds will also meet the needs of investors in ever-changing markets,” says Fawad Tariq Khan. ICC fund offering’s expansion falls in a strategic line with Shuaa’s aims to exemplify and expand its recurring fee income base.
About Shuaa Capital PSC
Shuaa Capital, headquartered in Dubai is one of the leading asset management and investment banking platforms offering a unique approach to investing focusing on private and public markets, debt, and real estate. The investment banking segment offers transaction services, private placement, corporate finance advisory, and public offerings of equity and debt securities, along with creating market liquidity on OTC fixed-income products. The asset management segment is one of the region’s largest, and investment portfolios, and funds in the regional equities, manages real estate funds and projects, fixed income, and credit markets. It also provides investment solutions to clients, focusing on alternative investment strategies. The firm is structured as a financial investment company by the Securities and Commodities Authority