DSAM Kauthar Gold Fund and the DSAM Kauthar Energy Fund will be offered to investors
Financial investment consultant Mondial, part of the Financial Partners Affiliation, has signed an MoU with Dubai Shariah Asset Management (DSAM) to offer its Kauthar Funds to investors in seven countries, including the UAE.
The first two funds available to investors will be the DSAM Kauthar Gold Fund and the DSAM Kauthar Energy Fund.
DSAM is a joint venture between Dubai Multi Commodity Centre Authority (DMCC)and Shariah Capital.
Mondial serves over 8,000 retail clients with more than $1 billion in assets.
Recognizing the growing demand from clients in the Middle East and Asia for Shariah compliant products, Mondial/Financial Partners recently embarked on a strategy to address the needs of Islamic investors in the UAE, Indonesia, Malaysia, Singapore, Hong Kong, Australia, and India. This effort not only involves educating and training its personal advisors but also requires researching and selecting high quality investment products for those advisors.
Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre Authority, said: "The DMCC continues to play a leading role in the evolution of the financial industry in the region. Our Shariah-compliant commodity funds have an outstanding performance record and we are pleased to now be able to offer these exciting and innovative products to Mondial."
Mondial CEO Sean Kelleher said: "Proven Islamic investment products are an important part of our investment consultancy business as we launch our initiatives in this area. We are delighted to partner with DMCC and utilize the DSAM Kauthar Funds."
© Emirates 24|7 2010
