IslamicFinance.de

Dubai-based asset manager Shuaa Capital has launched three new sharia-compliant funds on the Abu Dhabi Global Market (ADGM). The open-ended funds – Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund – are backed by US$75 million in capital. Shuaa Capital is targeting long-term institutional investors including pension funds and insurers and will offer the funds via the Allfunds Bank platform. According to Shuaa Capital chief executive, Jassim Alseddiqi, the supply of sharia funds still lags the demand among investors.