CAIA Association #Survey: Responsible Investment Principles Growing in Importance

According to a new survey by the Chartered Alternative Investment Analyst (CAIA) Association, incorporation of environmental, social, governance and ethics principles into the investment process is growing in importance. More than three quarters (77%) of respondents to the survey agreed that responsible investing is more important than it was three years ago, while 78% anticipate it will be more important three years from now. When asked to rank the largest drivers of adoption of responsible investing and ESG approaches, respondents chose: Adoption of industry standards (71%); Pressure from institutional investors (67%); and Positive investment return outcomes (64%). A total of 647 CAIA members participated in the survey, which was conducted in January 2017.

Mirae Asset Global Investments Launches New Sharia-Compliant Asian Equity UCITS #Fund

Mirae Asset Global Investments has launched its inaugural sharia-compliant Asian equities fund that will invest in sharia-compliant companies in Asia. Mirae established the new UCITS-compliant fund to address demand from Islamic investors in the Middle East and Southeast Asia and thereby also widen its client base in the region. The new fund will be domiciled in Luxembourg as part of Mirae’s Global Discovery Fund SICAV and will be registered in a number of selected countries. Mirae Asset Financial Group was founded in 1997 and has expanded in recent years to include a global asset management capability with offices in 12 countries on 5 continents.

Bursa Malaysia Readies Islamic Short-Selling System

Bursa Malaysia’s regulated platform has not finalised the precise structure yet. But according to Bursa Malaysia CEO Yusli Mohamed Yusoff Short-selling is perceived as an essential ingredient for capital markets to perform efficiently.

Millennium Private Equity first close

Finalternatives reported on 22 April that Millennium Private Equity has held a first close on its Global Energy Fund, which has raised USD 200 mn, and its Telecoms, Media & Technology Fund at USD 150 mn. Both are targeting USD 1 bn in equity. The funds shall have a tenor of 7 years, targeting 20 % IRR and investing between USD 20 to 100 mn per transaction.

Sponsors of the funds include Dubai Islamic Bank, United Gulf Bank, the Bahrain-based investment banking arm of the KIPCO Group of Kuwait, and the Saudi Arabian Islamic Development Bank, each conbtributing USD 50 mn to each fund, as well as Kuwait Finance House, which invests USD 50 mn into in the Global Energy Fund.

Keba Keinde is chief executive of Millennium Finance Corporation and chairman of Millennium Private Equity. Millennium Private Equity, a subsidiary of Millennium Finance Corp., is based at the Dubai International Financial Centre.


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