IslamicFinance.de

HSBC Amanah, the financial group's Islamic division, said it will start marketing its first Islamic Sukuk fund.

The HSBC Amanah Sukuk Fund, domiciled in Saudi Arabia, will comprise Sukuk, issued by 12 to 14 companies, mostly in the real estate, commercial banking and utilities sectors based in the Gulf Cooperation Council area. It would seek to raise USD 100 million for the fund, which has a 4-year maturity and will target mid- to high-single-digit annual returns.