Fund returned 27% in 2010

DSAM awarded for the second consecutive year at the MENA Fund Managers Awards

Dubai, 18 January, 2011: For the second consecutive year, Dubai Shariah Asset Management ('DSAM') Kauthar Gold Fund has been awarded the Outstanding Performance & Innovation Award at the MENA Fund Manager Awards.

The fund is part of DSAM's Shariah-compliant Kauthar Commodity Fund. DSAM is a joint-venture between the Dubai Commodities Asset Management, the asset management division of the Dubai Multi Commodities Centre ('DMCC'), and Shariah Capital Inc, the leading US-based Shariah financial advisor and consultant.

Accept the award, DMCC's Executive Chairman, Ahmed bin Sulayem said: "For the second year running DSAM Kauthar Gold Fund has been recognised for its outstanding performance and innovation. The Award-winning Kauthar Commodity Fund is the only Shariah-compliant commodity-focused hedge fund in the industry and with our disciplined approach we have delivered another year of strong returns for our investors. We are also pleased to have recently entered into an agreement to distribute the Kauthar Funds to retail investors across regional and international markets."

The Kauthar Gold Fund produced net returns of 27% for 2010 and 67.7% in 2009. The Fund, managed by Tocqueville Asset Management, seeks to produce positive, absolute long-term returns using both long and short strategies in the Shariah compliant common shares of precious metals producers. Originally designed for institutional investors only, the Kauthar Gold Fund will soon be available to the retail investing public through Mondial LLC, a leading UAE-based financial consultant.

Eric Meyer, Chief Executive Officer, Shariah Capital adds: "It has been another exciting year for DSAM and our four Kauthar Commodity Fund. Not only has our gold fund outperformed its benchmark and competitors, but our collective DSAM Kauthar Commodity Fund again returned net positive figures in double digits. I expect this trend to continue as recovering economies will inevitably drive commodity prices higher..."

The DSAM Kauthar Commodity Fund comprises four single strategy commodity-based funds that invest exclusively in Shariah-compliant equities. The four strategies are: The DSAM Kauthar Gold Fund; the DSAM Kauthar Energy Fund; the DSAM Kauthar Natural Resources Fund and; the DSAM Kauthar Global Resources & Mining Fund.   

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Dubai Multi Commodities Centre Authority
The Dubai Multi Commodities Centre Authority (DMCC) is the free zone authority for the Jumeirah Lakes Towers.  The DMCC, established in 2002, is a strategic initiative of the Government of Dubai with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance.

DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies.

Dubai Shariah Asset Management
Dubai Shariah Asset Management, DSAM, was established to provide Shariah compliant investment products for institutions and retail distributors worldwide. Based in Dubai, DSAM is currently partnering to distribute investment products, including white-labeled funds, in the GCC, Middle East, Asia, and Africa and is licensed, through Dubai Commodity Asset Management, (DCAM), as an investment company that is regulated by the Central Bank of the UAE. DSAM provides financial services to sophisticated investors with an interest in Shariah compliant products that are competitive in every way with their conventional counterparts.

For more information, please contact:
Dubai Multi Commodities Centre
Salam Al Shawa
Director, Marketing & Communication
+971 4 390 3855

Brunswick
Jade Mamarbachi
+971 (4) 365 8262

© Press Release 2011