EFH Global Sukuk Plus Fund, managed by Dr Aleksandar Devic of QIB (UK), reached its third anniversary on 18th March 2012. The Fund operates under a SICAV-SIF umbrella incorporated in Luxembourg. It was seeded by Qatar Islamic Bank with USD 30 million and the assets under management are now at USD 205.5 million. The Fund's investors include Islamic banks, takaful companies, corporates and high-net-worth individuals. To the best of our knowledge, it is now the world's largest global sukuk fund available to investors.
Dr. Aleksandar Devic, Head of Fund Management at QIB (UK)
The Fund invests in sukuk, which is sourced globally to add value. The underlying investments are primarily high-grade, as 60% of the holdings are rated "single-A" or above. The Fund's performance is benchmarked against 3-month USD Libor plus 200bp. The investment style is focussed on active management to protect the downside whilst capturing the market upside and taking advantage of what the Fund Manager sees as relative value trading opportunities. The Fund has outperformed the benchmark by 14.4% on a cumulative basis since inception. The Fund's returns in the first, second and third year since inception were 9.2%, 5.5% and 6.0%, respectively. The total return in the calendar year of 2011 was 4.9% and was composed of the dividend yield of 3.1% and capital gains of 1.8%. The dividends are paid at the end of each calendar quarter.
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© Press Release 2012
