Jul 03 2011
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BLME launches High Yield Fund
The fund, which will target institutional and high net worth investors in the GCC, is seeking to generate higher returns than those targeted by the company's US Dollar Income Fund.
"The launch has been the natural progression of BLME 's Asset Management business developing from the success of our US Dollar Income Fund," said Nigel Denison (pictured), executive director & head of markets, at BLME , in an interview with The Islamic Globe.
With the Sukuk market having become more liquid, diversified and enjoying a strong rally despite the ongoing unrest in Yemen, Libya and Syria, BLME is hoping that this rally will provide the Sicav/SIF open-ended fund with the opportunity for strong returns.
BLME is targeting a net return of three-month US Dollar Libor plus 5% p.a. by investing up to 85% in Sukuk and 15% in Ijarah. The fund has seed capital of $10m. Minimum investment is US$250,000 with Sterling and Euro share classes also available. Annual management charge is 1% with no initial fee.
© The Islamic Globe 2011
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