Product

The Al Safi Trust Platform

Strategic Relationship

Barclays Capital

The Al Safi Trust is a comprehensive Shariah compliant platform comprised initially of single strategy, alternative investment managers where Shariah Capital serves as the Shariah Advisor and Barclays Capital as the prime broker and custodian. Designed as a “one-stop” platform primarily for hedge fund managers, Al Safi provides a complete Shariah methodology that includes Shariah screening and arboon solutions to conventional short selling along with prime brokerage, administration and trustee oversight within a pre-established Cayman trust framework. 

As part of the Shariah process, investment managers

• open a separately-managed account at Barclays Capital Prime Brokerage where the account is configured as a sub-trust on the Al Safi Trust platform 
• trade from a monthly-updated list of companies, based on a manager’s trading universe, that have been approved as Shariah compliant using Shariah Capital’s proprietary screens 
• follow Al Safi’s Shariah guidelines regarding interest and leverage
• then invest the same as they would any separately-managed account portfolio.

Click here to download the “Shariah Guide for the Investment Manager”

Product

Dubai Shariah Asset Management (DSAM) -
The DSAM Kauthar Funds

Strategic Relationship

Dubai Multi Commodities Centre Authority (DMCCA)

DMCCA is an agency of the Dubai government. In 2008, DMCCA purchased a 4.99% equity stake in Shariah Capital. DMCCA Chief Executive, Malcolm Wall Morris, is a member of Shariah Capital's Board of Directors.

Shariah Capital and Dubai Commodities Asset Management (DCAM), a licensed financial investment company in the UAE and a wholly-owned division of DMCCA, have formed a joint venture company, Dubai Shariah Asset Management, Ltd. (DSAM), to develop and distribute Shariah compliant, commodity-linked investment products.

DSAM's initial product is a series of commodity-focused hedge fund strategies, exclusive to DSAM, that have been seeded by DMCCA and registered on the Al Safi Trust platform. They are marketed globally as single-strategy funds and as a fund-of-funds under the "DSAM Kauthar" brand name.

The DSAM Kauthar funds invest exclusively into corresponding strategies or "subtrusts" on the Al Safi Trust platform. Each of the four initial subtrusts was seeded by DMCCA. The investment managers, the subtrusts they manage, and the DSAM Kauthar funds that invest in their corresponding subtrusts are:

Investors can subscribe to the individual DSAM Kauthar funds or to a fund-of-funds, equally-allocated among the four strategies, entitled DSAM Kauthar Commodity Fund, Ltd. (DKCF). DKCF, as well as the single-strategy funds, were launched 1 January 2009 and are open for investment on the first business day of each month.

Click here to see the DSAM Kauthar Funds’ brochure and performance sheets on the PRODUCT tab
of this website

Product

Dubai Gold Securities

Strategic Relationship

Dubai Gold Investments and the World Gold Council

The Dubai Multi Commodities Centre Authority (DMCCA) and the World Gold Council have formed a joint venture, Dubai Gold Investments (DGI), which, in turn, has established Dubai Gold Securities (DGS). Shariah Capital is the Shariah Advisor to DGI and has enlisted a Shariah Supervisory Board for DGS.

DGS has issued Shariah compliant securities publicly-traded on the Dubai Stock Exchange, NASDAQ Dubai. These securities represent, and can be redeemed for, actual gold bullion held by an independent custodian.

Like a conventional gold ETF (Exchange-Traded Fund), however, DGS also gives investors the ability to track and trade gold positions without the expenses associated with buying and selling physical gold. With the added benefit of Shariah compliance, DGS appeals to Islamic individual and institutional investors worldwide.