Kamco announces strong investor interest in Shariah-compliant Al Jazi Money Market Fund

    Dumped value of 'ID':
'140797';

Dumped value of 'images_loop':
[];

A specialised Shariah-compliant mutual fund style investment solution, it combines financial flexibility with attractive rates of return for local and regional investors.

The subscription closing date is December 11th 2007; however strong demand from investors still completing their due diligence is leading Kamco to reconsider this date. Kamco's Assistant General Manager for Investment Advisory and Research Division Mr. Ziad Al-Qaissi concluded that as a result, Kamco may consider extending the subscription period by another month.

Mr. Al-Qaissi added,

'The prevailing market conditions make this an ideal opportunity for investors to diversify their investment portfolio using money market instruments. Kamco is well placed to offer a highly competitive and attractive solution for investors in our region given our extensive market knowledge and regional experience.'

In accordance with Kamco's business practice, the fund's responsible management committee has already commenced the screening process for suitable investments that the fund will execute upon final closing of the subscription period.

These investments will be in local and regional money market instruments that are governed by Islamic investment practices according to Shariah regulations. They will be either in Kuwaiti Dinars or other foreign currencies, issued by local and international financial institutions, banks, investment companies and governments.

'The volatility of equity markets, both globally and regionally, make money market investments increasingly attractive to investors seeking high-liquidity, low risk and competitive yields,'

said Al-Qaissi.

'Our market analysis has indicated that the Al Jazi Money Market Fund should offer superior return rates to those offered by other banking institutions offering short to medium term investment instruments.'

The Al Jazi Money Market Fund offers a highly flexible investment solution with weekly liquidity options with an initial lock-up period of three months. It was structured according to local and regional client demand.