BLME launches Sharia High-Yield Fund for Gulf investors

Bank of London and the Middle East (BLME) will launch the BLME High Yield Fund. The BLME High Yield Fund is a Sharia compliant fund which targets institutional and high net worth investors in Gulf countries seeking to generate higher returns than those targeted by BLME's US Dollar Income Fund.
By inventing up to 85% in sukuk and 15% in Ijara, BLME High Yield Fund targets a net return of three-month US dollar Libor in addition to a 5% return per annum.