Dubai - Mubasher: Emirates NBD Asset Management has announced the launch of its Emirates Islamic India Equity Fund in partnership with UTI International, according to a press release.
This comes following the approval from the UAE Securities and Commodities Authority (SCA).
“The fund aims to achieve medium- to long‐term capital growth through direct investments in Sharia-compliant Indian equities,” the statement indicated.
“The fund will look to invest primarily in large and mid-cap stocks to generate excess returns for its clients," it added.
"Our confidence in adopting an active approach to investing in Indian equities is driven by conviction in the market due to a number of factors, including stable macroeconomics conditions, Saudi financial and structural reforms, increasing rates of domestic investment, and consumption,” said Tariq Bin Hendi, CEO of Emirates NBD Asset Management.
