Mubasher: KAMCO Investment Company received the approval of the Capital Markets Authority (CMA) to establish and launch public offering of its KAMCO Islamic Equity Fund (KIEF), according to a statement.
The fund’s size will range from $18 million to $550 million.
KAMCO has started the first round of subscriptions into the fund for individuals and corporates who are looking forward to risk-adjusted returns in the long-term.
Managed by KAMCO in collaboration with Wellington Management International Limited, the fund allows investors to participate in the fund with a minimum initial subscription of 1,000 units at a per unit value of $10 at establishment.
The fund seeks to outperform the stated benchmark by investing in equity securities of companies worldwide that comply with Shariah guidelines.
