Emirates NBD Group put to work the Emirates Islamic Global Property Fund, an open-ended daily dealing investment fund
The new fund gives investors an opportunity to invest in Sharia-compliant property portfolios worldwide.
The fund, with a minimum subscription of $25,000 will available to investors in the UAE through the Emirates NBD Dubai property network including the group's priority banking channels.
The fund is the seventh Sharia-compliant fund to be launched through Emirates Funds Limited and seeks to generate a high and rising income stream and capital growth through indirect investment in global properties and property related securities.
"Our adherence to build an particular fund range continues and we look forward to delivering exposure to a new asset class for all our clients. We have successfully managed the Emirates Fund Dubai property range and think this will be an adequate addition to a number of clients' portfolios as investors in the Gulf region and beyond recognize the diversification benefits that, until now, had been restricted to a very few," said Jamal Bin Ghalaita, Head of Consumer Banking and Wealth Management at Emirates NBD.
The fund will be operated by Emirates Investment Services Ltd (EIS), the asset management arm of Emirates NBD group, licensed and regulated by the Dubai Financial Services Authority.
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