Islamic hedge funds gain

The Dubai Shariah Hedge Fund Index launched by Shariah Capital with the Dubai Multi Commodities Centre Authority, the first published index comprised of Shariah compliant hedge funds, reported its first full month of performance in January. The index was up 1.53%.

This performance is significant for two reasons, says Shariah. First, it underlines the exceptional quality of its managers.

Last month’s performance demonstrates that, during a month when most markets recorded losses, our equally-weighted basket of four Shariah compliant commodity-linked long-short equity hedge fund strategies delivered positive returns well above comparable industry benchmarks.

Secondly, it confirms that Shariah compliance does not impair returns. Experienced hedge fund managers can, indeed, accommodate Shariah and still deliver superior absolute returns. The proof was evident in last month’s numbers.

The Dubai Shariah Hedge Fund Index can be tracked by Thomson Reuters subscribers on pages .DUBSHF and us&DUSHF. It reflects the performance of the DSAM Kauthar Commodity Fund, Ltd. which, along with the underlying individual strategies, is open to investors on the first business day of each month.
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