Amana Capital launches an investment fund
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 offerperiod is from November 12, 2012 till 4.30 p.m.
on November 18, 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 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.
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