DSAM Kauthar Commodity Funds record strong gains in first nine months of 2009.In the first nine months of this year, the Shariah-compliant Dubai Dubai (d  bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf. Shariah Noun 1. shariah - the code of law derived from the Koran and from the teachings and example of Mohammed; "sharia is only applicable to Muslims"; "under Islamic law there is no separation of church and state"Islamic law, sharia, sharia law, shariah law Asset Management (DSAM DSAM Down Syndrome Association of Minnesota DSAM Diploma in Small Animal Medicine DSAM Deputy Sheriff's Association of Michigan (Lansing, MI) DSAM Defense Supply Agency Manual ) Kauthar Commodity Funds have recorded extremely strong gains, led by the DSAM Kauthar Gold Fund, which was up 51.48 per cent as of September 30, 2009, the Dubai Multi Commodities Authority (DMCCA) announced today. The DSAM Kauthar Commodity Fund (DCKF), an equally-weighted fund-of-funds comprised of four single-strategy, commodity-focused funds that invest exclusively in Shariah-compliant long/short equity Long/Short Equity A hedge fund strategy that involves buying certain stocks long and selling others short. There usually isn't a restriction on the country that the stocks trade in either. hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" on the Al Safi Trust platform, was up 30.51 per cent at the end of the third quarter of this year. The Al Safi Trust is a comprehensive Shariah-compliant platform designed specifically for hedge funds and launched by Barclays Capital Barclays Capital is the investment banking division of Barclays plc. It is a primary dealer in U.S. Treasury securities and various European Government bonds. Barclays Capital is led by CEO Robert (Bob) Diamond, an American who had been vice-chairman of Credit Suisse First and Shariah Capital. Distributed under the DSAM Kauthar label, the four funds underlying the index have been seeded with US$50 million each by DMCCA. The DCKF is one of the top-performing commodity funds among funds-of-hedge funds globally, based on Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. data, and ranks in the 99th percentile percentile, n the number in a frequency distribution below which a certain percentage of fees will fall. E.g., the ninetieth percentile is the number that divides the distribution of fees into the lower 90% and the upper 10%, or that fee level of the Bloomberg Active Index for Islamic Funds. Indeed, excluding funds with less than US$100 million in assets, the DCKF is the top-performing commodity fund-of-funds and the leading Shariah-compliant fund-of-funds. Up more than 51 per cent in the year to date, the DSAM Kauthar Gold Fund is ranked in the 99th percentile of the Bloomberg Active Index for Islamic Funds, comprised of 442 Islamic funds representing all investment strategies and markets from around the world. As of September 30, 2009, the DSAM Kauthar Gold Fund is one of the top five funds in this index. Likewise, the DSAM Kauthar Global Resources & Mining Fund, which recorded gains of 40.32 per cent in the first nine months of this year, is ranked in the 98th percentile of the Bloomberg Index, putting it in the top 10 of all Islamic funds reporting to Bloomberg. Meanwhile, the DSAM Kauthar Energy Fund was up an impressive 32.96 per cent as of September 30, 2009. "Despite significant volatility in the global commodities market, the DSAM Kauthar Commodity Funds have demonstrated exceptional performance in the first nine months of this year," said Ahmed Bin Sulayem, Executive Chairman of DMCCA. "In particular, the performance of the Gold Fund and Global Resources & Mining Fund place them at the very top of the worldwide indices," he added. "Underlying that, the extremely positive performance of the fund-of-funds itself demonstrates the soundness of the fund managers' investment strategy." As part of the funds' ongoing investor relations Investor relations The process by which the corporation communicates with its investors. programme, managers of the DSAM Kauthar Gold Fund and DSAM Kauthar Global Resources & Mining Fund will be in the Gulf this month to meet with existing and potential investors to discuss their strategies. 2009 Al Bawaba (www.albawaba.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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