23/09/2008

Dubai invests $150m in hedge funds

Dubai Multi Commodities Centre, an arm of the Dubai government, has invested $150m in three commodity-related hedge funds that will trade commodity equities in compliance with Islamic religious principles.

The three funds – Tocqueville Asset Management, Zweig-DiMenna International Managers and Lucas Capital Management – were each given $50m to make investments that comply with Shariah, or Islamic law.

They will invest in commodity-related stocks ranging from oil to gold and are the first funds to become part of Dubai Shariah Asset Management (DSAM), a joint venture between Shariah Capital and Dubai Commodity Asset Management, a wholly owned division of DMCC.

The feeder funds will be registered in Cayman and branded under the DSAM Kautha name.

Post a comment

Post a comment…

Be the first to comment on this article!

UK: Ucits IV

22/09/2010

UK: Ucits IV

The next HFMWeek Subscribers' Club breakfast will take place on Wednesday 22 September. Join us and…

Read More

30/09/2010

US: Capital introduction

The next US HFMWeek Subscribers' Club breakfast will take place on Thursday 30 September. Join…

Read More

26/08/10

European Legal Summit

The exclusive free event consists of two days of in-depth panel discussion and plenty...

Read More

Search HFMWeek