Mubasher: KAMCO Investment Company said that the Capital Markets Authority (CMA) agreed on the establishment and public offering of its KAMCO Islamic Equity Fund (KIEF).
The Fund has a targeted size ranging from $18 million to $550 million, according to a recent statement.
KAMCO has initiated the first round of subscriptions into the Fund for individual investors and corporates who target long-term attractive risk-adjusted returns; KIEF seeks to outperform the stated benchmark by investing in equity securities of companies worldwide that comply with Shariah guidelines.
The Fund is run by KAMCO in collaboration with an international investment service provider, Wellington Management International Limited.
KIEF provides investors with the opportunity to participate in the Fund with a minimum initial subscription of 1,000 units at a per unit value of $10 at establishment, the statement added.
