SEDCO Capital launches Shariah compliant platform

Saudi Arabia based SEDCO Capital has launched a Sharia compliant investment platform for institutional investors.

The platform offers access to seven funds, totaling assets under management of moer than $1bn, which are available through a Sicav SIF in Luxembourg.

Two new funds have been launched along with the platform. the SC Income Fund has a launch size of $100m, and the SC Global Markets Sentiment Fund launches with $150m. The funds are open to high net worth individuals, family offices, institutions and qualified distributors.

SEDCO plans to have 15 funds in place by the end of 2013, managing assets of more than $1.6bn. Each additional fund will focus on one or more asset classes, and be managed by “best in class asset managers under the supervision of SEDCO Capital.”

Hasan Al Jabri, CEO of SEDCO Capital said: “Institutional investors across European markets can now gain access to one of the world’s largest and most diverse ranges of be-spoke Shariah compliant investment funds.”

Speaking at the Alfi Spring Conference in Luxembourg, Al Jabri added that in future it may be the case that Sharia compliant funds fall within the broader scope of responsible investments, as they tend to meet requirements such as not taking short positions designed to profit from business failures, and not investing in certain sectors such as alcohol manufacturing or distributing.

Alfi has identified responsible investments as a key area in which Luxembourg wants to boost is position as a funds centre.

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