EIIB-Rasmala adds to sharia-compliant fund range

Launch-ribbon-cuttingEIIB-Rasmala has broadened its product range by launching the Rasmala Trade Finance Fund. EIIB-Rasmala is an investment banking and asset management group headquartered in London and focused on Gulf Cooperation Council markets.  Aiming to provide a means to achieve global diversification in both primary and secondary trade finance markets, the fund will invest in a portfolio of trade finance transactions exposed to different geographies, industry groups and individual companies in order to lower exposure to rising interest rates. It will be domiciled in the Cayman Islands and aim to obtain enhanced investment returns from assets that can often be undervalued because of a lack of recognition of their intrinsic payment capabilities. This follows a series of new fund launches this year, including the Rasmala Global Sukuk Fund, the Rasmala Leasing Fund and the Rasmala GCC Islamic Equity Income Fund. EIIB-Rasmala, which is listed on London’s AIM market and comprises the European Islamic Investment Bank and Rasmala Group, says it plans to target more than $2 billion (€1.5 billion) of capital and investment funds from global investors and clients across its range of sharia-compliant asset management and investment banking products. ©2013 funds europe

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