Funds and Investment Funds

by K.S. Ramkumar

Funds Mutual Vanguard A new Shariah compliant investment fund, which offers an opportunity to invest in the telecommunication sector of countries in the Middle East and Africa, was launched on Wednesday night.

This blog talks about the indian mutual fund schemes, NFOs and analysis of various mutual funds and mutual fund investment strategy.

Funds Mutual Top If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free.

Abu Dhabi, rich Emirate of the Gulf region, has actually the largest Sovereign Wealth Fund, ADIA with around $900 Billion and Abu Dhabi is today the world’s richest city! A number of Middle East investors is not interested to invest outside the region, as local real estate investments and infrastructure investments are giving higher returns than foreign investments and Middle Eastern investors have been repatriating their assets, reinvesting especially into the Gulf region’s spectacular mega projects.

Funds Market Money Print This Page

High Yield Plus Fund Inc. (the Fund) is a diversified, end management investment company. The Fund's primary objective is to provide a high level of current income to shareholders. It seeks to achieve this objective through investment of at least 80% of its investable assets in publicly or privately offered, rated securities of comparable quality. As a secondary investment objective, the Fund will seek capital appreciation, but only when consistent with its primary objective. The Fund has agreements with, among others, Wellington Management Company, LLP (the Investment Adviser) and Prudential Investments LLC (the Administrator). The Investment Adviser makes investment decisions on behalf of the Fund.

Funds In Investing Mutual March 25, 2005 (AXcess News) Jeddah - A new Shariah compliant investment fund, which offers an opportunity to invest in the telecommunication sector of countries in the Middle East and Africa, was launched on Wednesday night.

Blue Chip Value Fund, Inc. (the Fund) is a diversified, end management investment company, registered under the Investment Company Act of 1940. The Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of large companies with headquarters in the United States, such as those included in, or similar in size to those included in, the S and P 500 Index. Denver Investment Advisors LLC (DIA) acts as the Fund's investment adviser, while ALPS Mutual Funds Services, Inc. and DIA serve as the Fund' administrators.

Fidelity Funds Mutual The Bahrain Monetary Agency will regulate the Al-Tawfeek Arab Telecommunication Fund. "This is the first regional Shariah compliant telecom fund in the Middle East & Africa region," Hassan Salim Al-Ammari, chief executive officer of Al-Tawfeek Company for Investment Funds Ltd., a member of the Dallah Al-Baraka Group, which has launched the fund, told a press conference, followed by a presentation for investors, brokers and all related agencies, at Sheraton Bahrain Hotel & Towers in Manama.The fund is open-ended with a target capital of $500 million and will invest in listed and unlisted Shariah compliant equity and equity-related securities of telecommunications and related infrastructure companies established or operating in the region.

3. Subscriber agrees, as a condition to continued receipt of IBD Alerts Plus and its Content, Subscriber shall not create, sponsor or permit the trading on its exchange facilities, if any, of financial instruments or investment products (including, without limitation, derivatives, structured products, investment funds, traded funds (e.g., options on ETFs or futures on ETFs)) where the price, or performance of such instrument or product is based on, related to, or intended to track, any index published by Dow Jones or financial instrument or investment product (e.g., traded fund) linked to an index published by Dow Jones, without a separate written agreement with Dow Jones for such purpose.

Funds Load Mutual No The new fund is also aimed to broaden Al-Tawfeek's range of investment funds and provide investors with an opportunity to invest in a recently liberalized industry, where cellular telecommunications is in the early stage of the industry lifecycle and the successful experience of developed markets is being replicated in the region.

Funds Investment The region is at the center of attention due to potential growth resulting from unfulfilled demand. Africa, for example, has the highest subscriber growth rate in the world. It recorded a 37 percent subscriber growth rate in 2003. However, penetration is as low as 5.3 percent, "which indicates high potential for future growth and highly profitable investment opportunities for the fund to invest in," Al-Ammari said.Several mobile opportunities are available in the region, as Tunisia Telecom and Oman Telecom privatizations are expected to materialize in 2003. In 2006, Iraq's all three mobile licenses are expected to be for sale or renewal. Al-Tawfeek, a specialist financial investment company incorporated in 1992 in the Cayman Islands, is a leading provider of Shariah compliant investment funds.

Funds Retirement "Al-Tawfeek's strategy is primarily aimed to provide investors with superior Shariah compliant investment opportunities in an increasingly competitive market," Dhafer Salih Al-Qahtani, Jeddah-based general manager at the general directorate of specialized funds of Al-Tawfeek Co. for Investment Funds, said. The company is the fund's sponsor, registrar and placement agent.Since its inception, Al-Tawfeek has launched a number of Shariah compliant investment funds covering a variety of asset classes including equities, corporate debt, real estate, private equity, venture capital, leasing and reconstruction. "Al-Tawfeek has yielded high returns for its investors in a number of Shariah compliant investment funds," Adnan Ahmed Yousif, chief executive officer of the Manama-based Al-Baraka Banking Group, said, adding that the new Al-Tawfeek Arab Telecommunication Fund is an open-ended collective investment scheme, established in Bahrain with the objective of achieving long-term capital appreciation while adhering to the principles of Shariah. The fund offers monthly liquidity after 12 months with a minimum subscription of $25,000 for individuals and $100,000 for institutions.

Funds Trust Maha Baligh, chairperson and managing director of Egyptian Portfolio Management Group, member of EPG-Hermes Group, gave a presentation on the track record of the Egypt-based group as a fund manager.EPG-Hermes has a "strong track record" in investing in the telecommunication sector in the Middle East and Africa, said Maha who was accompanied by Yasmin I. Hassan, vice president of the Egypt-based EFG-Hermes Asset Management. In addition, EPG-Hermes has successfully completed a variety of transactions for a number of leading regional and international telecommunication companies like Vodafone plc.EFG-Hermes was the sole financial advisory to Vodafone in the creation of Misrfone, Egypt's second GSM network and also acted as the financial advisor on the acquisition by Mobile Telecommunications Company of Kuwait of a 91.6 percent stake in Jordan's leading mobile operator Fastlink and in 2003, through a consortium co-headed with Goldman Sachs and Riyad Bank, was mandated to advise the Saudi Communication and Information Technology Commission on the issuance of the Kingdom's second GSM and Data licenses. Custody and administration of the fund has been delegated to Gulf Clearing Company (GCC), Bahrain, a subsidiary of GCC Kuwait established in 2003. GCC is one of the leading fund custody and administration service providers.Source: Arabnews

Closed End Funds AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking business news. If you're not a member, consider joining now.

[ Comment, Edit or Article Submission ]