Mashreq Al Islami Income Fund (Sukuk Fund) Crosses $100 Million Milestone
02-Mar-2020
Mashreq Capital (DIFC) Limited (‘Mashreq Capital’) is delighted to announce that the Mashreq Al Islami Income Fund (‘Fund’) has surpassed $100 million in assets under management, a key milestone for the Fund.
Commenting on the achievement, Issam El-Hourani, Head of Marketing & Business Development said “We are proud of achieving this symbolic milestone as it is a testament to the Fund performance and demonstrates client’s trust in Mashreq Capital as a leading asset manager in the region. The Fund was launched in 2009 which ranks it as one of the oldest Sukuk Funds in the region with an exceptional track record. Long term investors have enjoyed returns north of 80% since the inception of the Fund and we look forward to continue delivering superior performance in the new decade.”
Mashreq Capital is the fund manager and investment manager of Mashreq Al Islami Income Fund, which was established in 2009 as one of the first Shari’ah compliant global Sukuk funds in the Middle East. With over a decade of strong performance, the Fund has one of the longest track record of success in the region. During its 10-year life, investors have never experienced a negative calendar year and the Fund is consistently a top performer when compared to direct peers. The Fund has a daily NAV and an investment grade internal rating. It invests in USD denominated Shari’ah compliant fixed income securities, whilst a new AED share class was launched at the end of last year to give investors the opportunity to invest in AED. An annual distribution of 5% was paid out to investors from the income-paying share class in 2019 and a distribution target of 5% has been maintained for 2020.
The Fund is supervised by a Shari’ah Supervisory Board which consists of globally renowned and esteemed Shari’ah scholars, coupled with an in-house Islamic Structuring, Products and Governance division.
Disclaimer: Mashreq Capital (DIFC) Limited (‘MC’) is incorporated in the Dubai International Financial Center (“DIFC”) and regulated by the Dubai Financial Services Authority (“DFSA”). This document is intended to be of general interest only and does not constitute investment advice, solicitation, any offer or personal recommendation by MC or any related MC entity (which includes for the purpose of this disclaimer, any employee, director, officer or representative of any MC entity), to buy or sell any security, product, service or investment, or to engage in or refrain from engaging in any transaction, including any jurisdiction where any such investment advice, solicitation, offer and/or personal recommendation would be contrary to any law or regulation in that jurisdiction. . Opinions expressed are the author's at publication date and they are subject to change without prior notice.
No warranty or representation is made that any returns/results indicated would be achieved or that all assumptions in achieving these returns/results have been considered. Past performance is not necessarily indicative of future results. Neither MC nor any related entity warrants or represents the accuracy of the information provided herein and any view expressed in this note reflects the personal view of the analyst(s) and does not take account of any individual investor’s objectives, financial situation or needs or the suitability of investments against your individual needs and risk tolerance. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether any investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither MC nor any related entity accepts any liability whatsoever for any direct, indirect, consequential or any other category of loss (except for gross negligence and willful misconduct on part of MC) arising from any use of this document and/or further communication in relation thereto. Neither MC nor any related entity has any obligation to correct or update the information or opinions in this document and any opinion expressed is subject to change without notice. This document is disseminated primarily electronically, and, in some cases, in printed form.
Prospective investors in the Fund must obtain and carefully read the Fund’s most recent Prospectus as well as seek separate independent financial advice and prior to making an investment in the Fund to assess the suitability, lawfulness and risks involved. Prospective investors should be aware that investment in the Fund carries a significant degree of risk. The value of the investment and the income from it can fall as well as rise as the Fund are subject to investment risks, including the possible loss of the principal amount invested.
Office address: Mashreq Capital (DIFC) Ltd, Al Fattan Currency House, Tower 2, Floor 28, Office 2803, Dubai International Financial Centre (DIFC) Dubai, UAE