SHUAA launches new Sharia-compliant fund under ICC umbrella

SHUAA launches new Sharia-compliant fund under ICC umbrella

SHUAA Capital (SHUAA), the leading asset management and investment banking platform in the region, has launched a new Sharia-compliant fund under the Incorporated Cell Company (ICC) umbrella, domiciled in Abu Dhabi Global Market (ADGM) and managed by SHUAA GMC Limited (SHUAA GMC), the wholly-owned regulated subsidiary of SHUAA.

The new fund, SHUAA Saudi Equity Fund, is designed to capitalize on the growing potential of Saudi and GCC equities, providing regional and global institutional and High Net Worth individual investors with a strategic gateway to invest in the fast-growing Saudi public market. SHUAA Saudi Equity Fund will primarily invest in Sharia-compliant equities in Saudi Arabia, with a small allocation to other member states of the Gulf Cooperation Council (GCC).

SHUAA Saudi Equity Fund will be actively managed and will typically invest across a wide range of industries. The fund is expected to invest in a portfolio of value and growth stocks across a combination of established and emerging business models. The investment objective of the fund is to achieve long-term and risk-adjusted capital appreciation.

Ajit Joshi

MD & Head

Public and Private Markets

SHUAA Capital “GCC nations have emerged as powerful forces in the worldwide economy, fuelled by their dedication to diversification and enterprising development strategies. Given