Sharia compliant fund launched

Sharia compliant fund launched
19/10/2016 , by , in News/Views

India’s first fully Sharia-compliant and Sebi registered fund launched its third investment fund, Realty AIF 1 (Alternative Investment Fund). The fund is meant for the real estate sector with IL&FS Trust Company acting as trustee for the fund.

Promoted by Secura Investment Management (India), the fund’s investments and opera- tions are in compliance with the Islamic finance rule. Targeted to raise `200 crore with the Greenshoe Option of `100 crore more, the minimum in- vestment under the scheme, which will have its first closing on December 31, 2016, is `1 crore, Mehaboob MA, managing director, Secura Investment Management said.

“With the investment potential in real estate sector growing at a steady pace, we are looking at an annualised RoI of 15-20%, with a profit share post hurdle of 80:20 with catch-up” , he added.

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