Doha-based investment bank QInvest, majority owned by Qatar Islamic Bank, says it plans to launch at least 30 Islamic funds over the next three years on a managed account platform which it introduced this week.
If they go ahead, the launches could play a significant role in reviving the Islamic funds industry, which has been hit by the global financial crisis. Launches of Islamic funds globally fell to 54 last year from 60 in 2011, according to Lipper, a unit of Thomson Reuters; 88 funds have been liquidated around the world in the last two years.
QInvest, which also has offices in Riyadh and Istanbul, hopes to attract an investor base beyond the Gulf through its Cayman-domiciled funds.
Four Islamic funds already exist on QInvest's platform; they focus on international equities and include some advised by U.S.-based Eagle Capital Management and Edgewood Management.
No comments:
Post a Comment