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May 25 2009

LM's "first of its kind" Australian Shariah compliant fund gains global appeal

Australia's LM Australian Alif Fund continues to service untapped global demand for a Shariah compliant, currency protected investment product managed by an experienced, credible Australian funds manager.

The fund is managed by LM Investment Management Ltd (LM), a specialist Australian income funds manager operating internationally from its six offices on the Gold Coast, in Sydney, Hong Kong, Auckland, London, and Dubai, currently with sources of new business inflows from beyond 32 countries.

The LM Australian Alif Fund leverages off LM's eleven year track record and takes advantage of Shariah compliant investment opportunities throughout Australia's diverse property and business markets, with assets selected on the basis of performance and integrity.

The fund is endorsed as Shariah compliant, with signed fatwa from the Shariah Supervisory Board, comprising four eminent globally renowned scholars.

According to LM Chief Executive Peter Drake, the LM Australian Alif Fund benefits from "Australian only" assets, and the soundness of the underlying fundamentals of the Australian property market.

"Unlike the rest of the world, Australia has not, and is not, experiencing large declines in values across its property markets. There has been minimal movement up or down, thus presenting attractive, alternative investment opportunities for global investors."

According to Drake, the fund's global appeal is further supported by the fund's "uniqueness" and "untapped" global demand.

"We understand that the LM Australian Alif Fund is the first Australian onshore Shariah compliant fund launched by an Australian fund manager, for Islamic investors globally", says Drake.

"Without doubt, there is significant interest amongst the world's Islamic population to invest in Australia's property markets, and by creating the LM Australian Alif Fund, this is a way in which LM can facilitate Islamic investors' access to Australian business and property markets, in a Shariah compliant manner."

Available for Australian dollar and currency hedged investment, the LM Australian Alif Fund seeks growth of capital while adhering to Shariah principles and investment guidelines. It takes advantage of opportunities within Australia's diverse and expansive property and business sectors that meet Shariah principles. Investment parameters include:-

  • Direct property;
  • Property development and onsale;
  • Other managed funds;
  • Joint ventures; and
  • Compliant business investment.

The fund is available for investment terms of 36 months or longer, in the full range of major international currencies. Non-Australian dollar currency investments are hedged against Australian dollar currency movements using Shariah compliant hedged mechanisms approved by the Shariah Supervisory Board.

The Shariah Supervisory Board, comprising Dr Mohamed Ali Elgari, Dr Mohd Daud Bakar, Dr Muhammad Amin Ali Qattan and Dr Osama Al Dereai, works in conjunction with LM and is responsible for endorsing the fund's Shariah investment guidelines.

The LM Australian Alif Fund is marketed via LM's international network of licensed financial advisers, intermediaries, wholesale platforms, private banks, superannuation funds, corporate and institutional investment consultants spanning beyond 32 countries.

"We continue to gain further momentum in regions where interest has been most prevalent, including the Middle East, Asia and the United Kingdom. That being said, we are also active in other global regions in which Islamic communities are seeking alternative Shariah compliant investment opportunities, including Australia", says Drake.

Drake believes global demand for Shariah compliant investment products presents outstanding opportunity to aid the continued international growth of LM.

"In recent decades, global demand for Shariah compliant products has risen significantly. Data reveals that the total number of Islamic funds worldwide is expected to reach 925 funds in 2009, representing a 906% increase from 102 funds in 2000", says Drake.

LM is a specialist Australian income funds manager which has operated within Australia's business and property sectors since 1998, now enjoying an active presence in the financial services markets throughout Australia, New Zealand, Hong Kong, Asia, the United Kingdom, Europe, Africa and the Middle East.

Since inception, LM has carefully developed diversity in its distribution program, and now distributes its products through an international network of licensed financial advisers, intermediaries, wholesale platforms, global portfolio bonds, private banks, superannuation funds, corporate and institutional investment consultants.

LM utilises its extensive property expertise to effectively compete with banks and other prominent financial institutions to seek quality assets for its funds. Over the past eleven years, through the LM funds LM has secured approximately AUD$4 billion of investment within the commercial, retail, residential, aged care and construction sectors of Australia's property markets, with zero capital loss to investors.

Since its inception in 1998, LM has developed significant property expertise through the management of its prime income funds, which provide cash and income options.

LM's other income funds under management, available for Australian dollar and international currency investment, include the LM Australian Income Fund - Currency Protected, LM Managed Performance Fund and LM Cash Performance Fund.

Designed for investment horizons of 12 months or longer, LM's conservative and enhanced offerings are well positioned to take advantage of strong commercial opportunities within Australia's property markets, whilst our cash offering benefits from the strength of Australia's banking system, ranked amongst the best in the world.

-Ends-

Investors must have read and considered the current Product Disclosure Statement which includes cooling off provisions and/or Information Memorandum before investing in or continuing to hold the LM products, available at www.LMaustralia.com. The LM funds are issued by LM Investment Management Ltd Responsible Entity and AFSL No. 220281 ABN 68077208461.

Past performance is not a reliable indicator of future performance. LM recommends investors consult a financial adviser/intermediary for advice prior to investment as LM is not licensed to give advice.

MEDIA CONTACT
Michelle Ballard
+61 402 085 231
mballard@LMaustralia.com

© Press Release 2009


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