Investment Fund launched
Heraymila Capital (Pvt) Ltd. (HCL) and Amana Capital Ltd. (ACL)
jointly launched the Amana-Heraymila Shariah Fund, a balanced unit trust
fund that will invest in Shariah-compliant listed equity and income
securities. The initial unit offer period is from November 12, 2012 till
4.30 p.m. on November 28, 2012 and a unit is priced at LKR 10 during
this period. The minimum investment in the Fund is LKR 10,000.
The Fund will offer easy accessibility, diversification, liquidity
and stringent Shariah compliance to local and foreign investors. The
Islamic financial services industry is gathering momentum in Sri Lanka
in line with its growing popularity overseas. Global Islamic financial
assets are expected to reach US$ 5 trillion in 2012. The Amana–Heraymila
Shariah Fund is therefore timely in its ability to cater to a growing
need for Shariah-compliant financial products.
Investors will benefit from: a qualified and experienced team of
investment managers at Heraymila; Shariah compliance expertise by Amana;
a trustee framework provided by Deutsche Bank; regulation by the SEC;
access to a suite of Shariah compliant securities; the open ended nature
of the Fund, enabling investors to come in to or exit the Fund at any
time and transparency and regular reporting on investments.
HCL will be responsible for the investment decisions, trading
strategies and administration of the Fund. Incorporated in Sri Lanka,
HCL is licensed and regulated by the SEC. It is a wholly-owned
subsidiary of Heraymila Investments Limited, a company registered in the
Dubai International Financial Centre. HCL also manages a growth fund
worth over LKR 1 billion.
ACL will scrutinize all Shariah-compliant aspects of the Fund. ACL is
part of the Amana Group, which pioneered Islamic financial services in
Sri Lanka and is a fully owned subsidiary of Amana Global Limited. ACL
is licensed by the SEC and co-partnered in Sri Lanka’s first Shariah
compliant equity fund.
Individual and institutional investors can obtain the Fund’s
Exploratory Memorandum and application form at www.heraymilacapital.com
or at www.amanaglobal.com, and can contact HCL at 011 2 359 100 or ACL
at 011 7 801 000, according to a media release.
|