The specialised investment fund, incorporated as a Luxembourg Sicav at the initiative of SEDCO Capital (part of the Jeddah-based SEDCO Holding group of companies) is a fund with multiple sub--‐funds and is set to reach over 1 billion dollars within the first year after launch.
The fund is Shari’ah-compliant. A recent study by Luxembourg for
Finance showed that assets held by fund structures investing according
to Shari’ah principles reached 2 billion dollars at 31 December 2011.
Just under half of this money was held in regulated investment funds with the balance in unregulated structures and securitisation vehicles. Consultants indicate that further projects are in the pipeline.
Luxembourg has been actively promoting its services to Shari’ah-compliant investment structures since 2008 and ALFI, the investment fund association, has a dedicated working committee. (source)
Just under half of this money was held in regulated investment funds with the balance in unregulated structures and securitisation vehicles. Consultants indicate that further projects are in the pipeline.
Luxembourg has been actively promoting its services to Shari’ah-compliant investment structures since 2008 and ALFI, the investment fund association, has a dedicated working committee. (source)
