Shuaa launches three Sharia-compliant funds in ADGM

Shuaa launches three Sharia-compliant funds in ADGM

Shuaa launches three Sharia-compliant funds in ADGM

an hour ago

The photo has been used for illustrative purposes.

Shuaa Capital has launched three Sharia-compliant funds and already secured $75 million of commitments. The Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund - the first Sharia-compliant funds within an ICC umbrella to launch in the Abu Dhabi Global Market (ADGM) - are breaking ground as part of Shuaa's fund platform rolled out in ADGM, the company said in a statement.

The funds platform is expected to be the largest of its kind to be domiciled in ADGM.

The funds, and Shuaa's fund platform within ADGM, are established and managed by Shuaa GMC Limited, a wholly owned subsidiary, which is regulated by the ADGM Financial Services Regulatory Authority, FSRA.

The Shuaa High Yield Sukuk