QIB launches Europe-based Global Sukuk Plus Fund

London-based QIB affiliate, European Finance House, offers diversification through Global Sukuk Plus Fund

Jean-Marc Riegel, General Manager, Investment Banking and Development, QIB

QIB’s London-based affiliate, European Finance House (EFH), has initiated a European-based platform designed to originate Shari’ah-compliant investment products. The first of its products is the Global Sukuk Plus Fund.

The EFH-managed Global Sukuk Plus Fund is a weekly dealing mutual fund which invests in global Sukuk markets. The QIB and EFH joint-effort Fund’s assets will be invested in Sukuk issued by sovereign, quasi-sovereign and corporate issuers and sourced globally. Value can be added through investment in Shari’ah-compliant debt of credit investments such as syndicated Murabaha, trade finance and structured investments, where appropriate.

This Luxembourg Investment Platform-based and guided fund is open to institutional, private and corporate clients seeking investment opportunities managed by a Shari’ah-compliant bank. The Fund’s benchmark is US$ three month Libor +200 basis point.

Jean-Marc Riegel, QIB’s General Manager, Investment Banking and Development, said, “The Fund’s geographic and sector diversification take advantage of multiple sources, while the Fund’s active management maximizes yield and return. The investment range of this Sukuk Fund spans across six major Islamic financial markets and is easily accessed via each of QIB’s affiliates in addition to EFH, including Arab Finance House (AFH) in Lebanon and Asian Finance Bank (AFB) in Malaysia.”