Jan 23 2012
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Tebyan launches first Shariah Fund
QFIB is Qatar's independent Islamic investment bank, authorised by the QFC Regulatory Authority.
Covering what is commonly known as CHIME (China, India, and Middle East); the new Fund will be operated by Tebyan, established and regulated in the Cayman Islands and co-managed by Gulfmena Investments (Gulfmena) as Investment Manager who will oversee the MENA and Africa investments and Lion Global Investors (Lion Global).
On the back of enhancing investment sentiment globally, Tebyan launches this new product with initial capital funding seeded by QFIB with the aim of fostering investor confidence and building a solid track record before marketing the fund to qualified investors. However, the Fund is an open- ended fund, open to investors who wish to participate in the early stage. Moreover, the Fund will use as a benchmark the Dow Jones Islamic Market CHIME Index, launched last week by Dow Jones Indexes, a pioneer in the Islamic indexing space.
Haissam Arabi, CEO of Tebyan, said: "We expect the global economy to recover by the second half of 2012. This will reflect positively on global equity markets specifically in emerging markets whose economies benefit from lower commodity and stable oil prices, growth from domestic activity and government spending. This makes the CHIME Opportunities Fund ideal for the comeback of the equity markets."
Tebyan is a total solutions investment provider that combines both asset management and wealth management to serve the needs of the Islamic investment community. After an initial and temporary offshore establishment, Tebyan will be headquartered in Qatar and is expected to get its licence from the QFCRA in the first half of 2012.
© The Peninsula 2012
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