Posts tagged as: Funds

Court orders HDG Mansur to pay $5.8M in dispute with Islamic funds

Court orders HDG Mansur to pay $5.8M in dispute with Islamic funds

<p>A judge has ruled that HDG Mansur Investment Services must return $5.8 million in fees it paid itself from two equity funds it managed under Islamic law. The Indianapolis real estate fund asset manager didn&rsquo;t have the right to recalculate its fees to claim a higher take for itself, according to federal Judge Colleen McMahon of New York. The lawsuit contends that, starting in early 2012, HDG Mansur began paying itself fees in advance for future real estate transactions. When those deals never happened, the Indianapolis company came up with the underbilling rationale in an effort to cover up the unearned payments that they had been making to themselves. HDG Mansur was dropped as the funds&rsquo; manager earlier this year. The judge also ordered HDG Mansur to pay 9 percent interest on the fees that are to be returned.</p>
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<p><a href="http://www.indystar.com/article/20130807/BUSINESS/308070070/Court-orders-HDG-Mansur-pay-5-8M-dispute-Islamic-funds?nclick_check=1" title="http://www.indystar.com/article/20130807/BUSINESS/308070070/Court-orders-HDG-Mansur-pay-5-8M-dispute-Islamic-funds?nclick_check=1">http://www.indystar.com/article/20130807/BUSINESS/308070070/Court-orders…</a></p>
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Sedco to distribute Islamic funds via private banks

Sedco to distribute Islamic funds via private banks

Saudi investment firm Sedco Capital plans to register its Islamic funds in Switzerland and distribute them through tie-ups with global private Banks. This is part of efforts to diversify its client base outside Saudi Arabia. Sedco Capital has incorpora…

Azzad Meets with South African Ambassador about Islamic Finance

Azzad Meets with South African Ambassador about Islamic Finance

Representatives from Azzad Asset Management met with His Excellency Ebrahim Rasool, Ambassador of the Republic of South Africa to the United States, to discuss potential investment in South Africa as part of the portfolio held by the Azzad Wise Capital…

Making Sharia work

Making Sharia work

The UK government's national savings scheme, NEST, recently announced that HSBC was its choice of fund manager for its Sharia investment mandate. Chris Gower, head of European consultant relations at HSBC, said the fund follows a quantitative passive m…

TFI’s Shariah JV fund acquires properties in UK

TFI’s Shariah JV fund acquires properties in UK

<p>Barwa Bank&rsquo;s investment banking division, The First Investor (TFI) and Investra Investments have announced the first two property acquisitions of their UK joint venture fund. The fund invests in income-generating property in the distribution, logistics and light-industrial sector of the UK, targeting net quarterly dividends of 7%-9% per annum and capital appreciation over three years. Both TFI and Investra have seeded the fund with approximately QR56mn capital from their respective balance sheets. TFI and Investra have put together an institutional grade investment programme in collaboration with Pelham Associates as well as internationally renowned lawyers, tax advisors and administrators to deliver best in class governance, investment management and risk management. TFI and Investra will be continuing their investment programme in the UK distribution, logistics and light-industrial sector until Q1, 2014.</p>
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<p><a href="http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shariah-jv-fund-acquires-properties-in-uk" title="http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shariah-jv-fund-acquires-properties-in-uk">http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shar…</a></p>
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Shariah compliant mutual funds yet to catch investors fancy

Shariah compliant mutual funds yet to catch investors fancy

In India, there are only two fund houses, namely Tata MF and Taurus MF, which offer Shariah-compliant funds. Industry experts say that the major challenge in ethical funds is product awareness and its marginal market demand. These funds only cater to a…

SEDCO Capital Global Funds (SCGF) offers the latest innovations by applying, for the first time, an ESG filter on its Shariah-compliant investment funds

SEDCO Capital Global Funds (SCGF) offers the latest innovations by applying, for the first time, an ESG filter on its Shariah-compliant investment funds

Luxembourg-based SEDCO Capital Global Funds (SCGF) has announced the first ever Shariah-compliant funds managed according to environmental, social and governance (ESG) principles. The SEDCO Capital US Equities Fundamental Indexing® Fund and SEDCO Capital Global Higher Dividend Yield Fund are screened for compliance with international conventions and guidelines on environment, human rights and business ethics such as UN Global Compact and OECD Guidelines. Non-compliance is dealt with through a process of engagement and exclusion. The funds are targeted at institutions, high net worth individuals, family offices, and qualified distributors wishing to invest in a socially responsible manner, while complying with Shariah principles. The funds can also be distributed by banks who wish to offer this investment opportunity to customers.

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SCGF announces first ever Shariah-compliant funds

SCGF announces first ever Shariah-compliant funds

Luxembourg-based SEDCO Capital Global Funds (SCGF) has announced the first ever Shariah-compliant funds managed according to environmental, social and governance (ESG) principles. The SEDCO Capital US Equities Fundamental Indexing Fund and SEDCO Capita…

New real estate fund from Saudi Fransi Capital

New real estate fund from Saudi Fransi Capital

Saudi Fransi Capital has launched its new fund, the Saudi Fransi Real Estate Fund. The new fund seeks to achieve capital growth, by developing lands and real estate projects, along with the possibility of generating income stream by acquiring existing …

GI-TH roll out RM150m Shariah-compliant fund

GI-TH roll out RM150m Shariah-compliant fund

Guidance Investments (GI) has launched a RM150 million Shariah-compliant investment fund for equipment leasing for the Saudi Arabian market in partnership with Lembaga Tabung Haji (TH). This Tabung Haji acted as the capital provider, while the US-based…

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