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Emirates Islamic Bank starts new Islamic fund

DUBAI — Emirates Islamic Bank has announced the launch of yet another new Islamic fund to its already expanding Shariah compliant fund offering — the Islamic Alternative Strategies Fund.

The fund is open to institutional and retail investors and will seek to generate absolute positive returns through all market cycles by investing in Shari'a compliant investment vehicles.

Faisal Aqil, General Manager, Retail Banking at EIB said, "At Emirates Islamic Bank, we offer risk diversification to our clients by providing innovative solutions to accessing alternative asset classes. The latest offering is the Islamic Alternative Strategies Fund, a hedge fund with the ability to invest across a range of strategies, aiming to deliver equity-like returns with bond-like risk over a complete market cycle."

This product is now available for investment to the Ethmar clients at minimum ticket sizes of $25,000. The Fund is a Jersey registered fund with monthly liquidity and no initial lock-in period. Fund assets are Shariah compliant as advised by the Emirates Islamic Bank's Shariah Board. Investments into the Fund should be viewed as medium to long term investment.