SHUAA launches three Sharia-compliant funds in ADGM and secures $75 million of commitments

• SHUAA launches three open-ended Sharia-compliant funds targeting qualified institutional investors through its wholly owned subsidiary, SHUAA GMC Limited
• Fund launched with an initial committed AUM of USD 75 million
• Launch of funds in line with SHUAA's strategy to diversify its products and services, and grow its fee income business

United Arab Emirates, 4 October 2020: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platforms in the region, has launched three Sharia compliant funds and already secured USD 75 million of commitments.

The SHUAA High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund – the first Sharia-compliant funds within an ICC umbrella to launch in the Abu Dhabi Global Market (ADGM) – are breaking ground as part of SHUAA’s fund platform rolled out in ADGM. The funds platform is expected to be the largest of its kind to be domiciled in ADGM. The funds, and SHUAA’s fund platform within ADGM, are established and managed by SHUAA GMC Limited, a wholly owned subsidiary, which is regulated by the ADGM Financial Services Regulatory Authority (FSRA).

The SHUAA High Yield Sukuk Fund will invest in a diversified portfolio of sukuk instruments, including high yield sukuk, Sharia-compliant fixed income investments and other collective investment funds approved by the Sharia advisors. The Nujoom Aggressive Fund and the Nujoom Balanced Fund will invest in a global portfolio of Sharia-compliant equities, fixed income investments and money market instruments.