Saudi-based asset manager Shuaa Capital has launched a sharia-compliant equity fund that will focus on companies in the region.
According to the firm, the Shuaa Saudi Equity Fund has been launched to capitalise on the “growing potential of Saudi and GCC equities”.
Sharia-compliant Saudi-based stocks will make up the bulk of the portfolio.
The fund, which will be actively managed by Shuaa Capital, has been launched under the incorporated cell company (ICC) fund structure and is domiciled in Abu Dhabi. It will be distributed via the Allfunds platform.
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