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Shariah Capital & DMCC to boost funds to multibillion level fund plans
February 1, 2010
Connecticut-based Shariah Capital and Dubai Multi- Commodities Centre (DMCC) plan to boost assets under management in their specialised commodity funds to "multibillion" dollar level in three years from almost $260 million (Dh954.2m) now, senior officials said.
"Our plan is to make this a multibillion project within three years. We're now ready to raise funds," Eric Meyer, Chairman and Chief Executive of Shariah Capital, told Zawya Dow Jones in an interview.
DMCC, part of Dubai World, in a joint venture with Shariah Capital known as Dubai Shariah Asset Management (DSAM), launched a basket of four commodity-focused funds in 2008 and seeded the funds with $50m each. DSAM develops and manages Shariah-compliant investment funds focused on commodities.
Original Posting At: GulfBase
"Our plan is to make this a multibillion project within three years. We're now ready to raise funds," Eric Meyer, Chairman and Chief Executive of Shariah Capital, told Zawya Dow Jones in an interview.
DMCC, part of Dubai World, in a joint venture with Shariah Capital known as Dubai Shariah Asset Management (DSAM), launched a basket of four commodity-focused funds in 2008 and seeded the funds with $50m each. DSAM develops and manages Shariah-compliant investment funds focused on commodities.
Original Posting At: GulfBase
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