Amana Heraymila Shariah Fund launched

Heraymila Capital (Pvt) Ltd. (HCL) and Amana Capital Ltd. (ACL) jointly launched the AmanaHeraymila Shariah Fund, a balanced unit trust fund that will invest in Shariah-compliant listed equity and income securities. The initial unit offer period is from 12 November 2012 till 4.30 p.m. on 28 November 2012, and a unit is priced at LKR 10 during this period. The minimum investment in the Fund is LKR 10,000.

The Fund will offer easy accessibility, diversification, liquidity and stringent Shariah compliance to local and foreign investors. The Islamic financial services industry is gathering momentum in Sri Lanka in line with its growing popularity overseas. Global Islamic financial assets are expected to reach US$ 5 trillion in 2012. The Amana–Heraymila Shariah Fund is therefore timely in its ability to cater to a growing need for Shariah-compliant financial products.

Investors will benefit from: a qualified and experienced team of investment managers at Heraymila; Shariah compliance expertise by Amana; a trustee framework provided by Deutsche Bank; regulation by the SEC; access to a suite of Shariah compliant securities; the open ended nature of the Fund, enabling investors to come in to or exit the Fund at any time; and transparency and regular reporting on investments.

Individual and institutional investors can obtain the Fund’s Exploratory Memorandum and application form at www.heraymilacapital.com or at www.amanaglobal.com, and can contact HCL at 011 2 359 100 or ACL at 011 7 801 000.