UK - UK FIRM TO LAUNCH INVESTMENT SUKUK

MANAMA: British-based Sharia-compliant investment firm Solum Asset Management will launch the first "investment sukuk" in the first quarter of next year, treating Islamic bonds as investment vehicles rather than debt instruments, its chief executive said.

Unlike traditional sukuk, which are akin to conventional debt products, the £200 million ($310m) Student Accommodation Investment Sukuk will use equity to provide holders with an annual yield of four to six per cent, said Safdar Alam at the company's launch in Bahrain.  (source)

UK - UK-based fund to treat sukuk as investment, not debt

MANAMA: British-based, Shariah-compliant investment firm Solum Asset Management will launch the first “investment sukuk” in the first quarter of next year, treating Islamic bonds as investment vehicles rather than debt instruments, its chief executive said.

Unlike traditional sukuk, which are akin to conventional debt products, the 200 million sterling ($310 million) Student Accommodation Investment Sukuk will use equity to provide holders with an annual yield of 4 to 6 percent, said chief executive Safdar Alam at the company’s launch in Bahrain. (source)

UK - FINANCE - Solum Asset Management eyes UK student accommodation

cpifinancial.net - Launched at the World Islamic Banking Conference, Solum Asset Management has unveiled plans for a Sukuk that will invest in income-producing student accommodation in the UK

Safdar Alam, Chief Executive Officer, Solum Asset Management

The firm plans to issue its UK Student Accommodation Sukuk in Q1 2012. Solum says it has identified and shall acquire existing income-producing assets. Value for money and rental affordability will be key tenets of the investment strategy, the firm said.

The UK student accommodation sector has performed well despite the downturn in the wider UK economy, commercial and residential property sectors. Structurally, there remains a long term shortage of purpose built housing for students in many cities and this, coupled with the low delivery of new private housing stock, has resulted in continued positive rental growth in many university towns and cities in the UK. (source)