Tharawat launches new sukuk fund
Manama, May 26, 2009
Tharawat Investment House has launched its sukuk fund, which is an open-ended, Sharia-compliant investment fund based in Bahrain.
The fund will invest around 70 per cent of its assets in government and corporate Sukuk in the GCC, Middle East and North Africa.
'The launch of Tharawat Investment Fund, our first investment product, stems from the fact that we are the investment management partner in the conference,' said chief executive officer Aref Mohammed Al Alawi.
'The fund aims to preserve capital and achieve high return for investors through purchasing sukuk in primary and secondary markets.
'The fund also offers investors the choice to receive the fund's distributions in cash or through issuance of additional units.
'The fund targets accredited investors from individuals and organisations that are looking for investments that generate higher returns than low and moderate risk bank deposits.'
'As part of our corporate social responsibility and stemming from our belief in sharing our success with all, we have decided to offer the opportunity to the largest number possible of potential investors,' he added.
'Therefore, we set the minimum limit of investment to $100,000 and in increments of $10,000 for those wishing to invest more.
'On a risk-reward basis, sukuk will continue to offer attractive and safe returns in comparison to other asset classes.'-TradeArabia News Service