ameinfo.com - Moody's Investors Service has assigned a Baa bond fund rating to the Bank of London and The Middle East Plc 'BLME' Sharia'a Umbrella Fund - USD Income Fund, a Luxembourg-domiciled fund (the 'Fund').
The Fund is structured as a Luxembourg domiciled SICAV-SIF and aims to provide a competitive level of income together with a high degree of security of capital. The fund seeks to achieve this by investing in a diversified portfolio of high quality Islamic money market instruments, Sukuk (an Islamic 'bond') and Ijara (the leasing of assets). (source)
