First Islamic hedge launch

future islamic hedge fund market could be worth trillions in assets under management

The first Islamic fund of hedge funds launches this quarter in a bid to tap into capital from Islamic families and institutions keen to meet the requirements of Shariah law. Shariah Funds Inc, a division of Meyer Capital Partners, a US-based investment management firm, plans to launch the product with the help of Islamic scholars. The group will approve processes, giving hedge fund managers the ability to use options and short selling in their portfolio management without breaking Islamic law. The underlying hedge funds will also be required to meet the principles of Shariah law, with s...