Mashreq Al Islami Income Fund
The Mashreq Al Islami Income Fund caters to demand from investors for an investment vehicle that provides Sharia'h Compliant returns by investing in Sharia'h Compliant financial instruments. Any efficiently managed portfolio will require some exposure to the fixed income asset class and this fund hopes to provide that exposure in a transparent, low cost and efficient manner.
The fund is among one of the first regional Islamic Fixed Income funds and all investments in the fund are approved by its Sharia'h Supervisory Board which consists of eminent Islamic Banking scholars.
Fund Details
| Investment Objective | The Fund's objective is to achieve average annual returns of 5-7% per annum over the life of the Fund. The Fund invests primarily in Sukuk and other fixed income Sharia'h Compliant assets. |
| Fund Operator and Investment Manager | Mashreq Capital (DIFC) Ltd. * |
| Fund Type | Sharia'h Compliant open ended Fund. |
| Domicile | DIFC, Dubai |
| Regulator | Dubai Financial Services Authority (DFSA) |
| Currency | USD |
| Minimum Subscription | USD 10,000; any additional investments in increments of USD 1000 |
| Eligibility | Open to Professional Clients as defined by the DFSA Rules.
This may include high net worth individuals, sophisticated investors, corporates and financial institutions. ** |
| Administrator and Custodian | Deutsche Bank |
| Registrar | Deutsche Bank |
| Valuation | Each Tuesday |
| Subscription and Redemption | Each Wednesday |
| Notice Periods | 3 business days |
| Subscription Fee | 2.0% |
| Redemption Fee | No fee; has a lock in period of three months |
| Management Fee | 0.5% p.a. |
| Performance Fee | No performance fee will be payable |
| Bloomberg Ticker | BADISIN |
| Zawya Code | MAKBIIF.MF |
*: Mashreq Capital (DIFC) Ltd. Is regulated by the DFSA
**: Open to the category of Professional Clients only as defined by the DFSA Rules and hence not intended for any other persons. For further details on client categories, please consult the DFSA Rules at: www.dfsa.ae