Shuaa launches sharia funds

Abu Dhabi-based asset manager Shuaa Capital has launched a trio of sharia-compliant funds.

The funds will be domiciled in the Abu Dhabi Global Market (ADGM) under the Incorporated Cell Company (ICC) structure.

The three funds – Shuaa Global Sukuk, Shuaa Global Equity and Shuaa North America Equity – are expected to gather US$200 million assets under management (AuM).

The firm also expects to launch three more funds in 2023 on its ICC platform with the aim of exceeding $400 million in AuM.

According to Ajit Joshi, managing director and head of public private markets at Shuaa Capital, the funds have been launched on the back of “flourishing investor demand for Sharia-compliant investments”.

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