Abu Dhabi Investment House launches Al Joud equity fund

Al Joud, the new GCC Equity Fund, will invest in listed securities issued in the GCC countries, in accordance with Sharia Investment Guidelines. ADIH will invest upto $5m as seed capital in the fund.

The fund's launch is timed to exploit the strong real GDP growth rates that are being witnessed across the GCC, and growing client appetite for investing wealth that was traditionally invested outside the region back into their home countries. With robust domestic demand and an increasingly diversified industry base, the GCC provides investors with a welcome hedge against volatile global markets which are expected to witness a slowdown.

Al Joud's management team will be the same portfolio management team that has successfully managed existing funds in the ADIH portfolio. The team has built a solid track record in identifying and purchasing relatively undervalued securities - based on extensive research. This in turn allows for market beating returns in the medium term.

ADIH recently announced the successful exit of the Lagoon Fund with an ROI of 2.5%, as well as a partial exit from Al Arabi fund and successful closing of the Porta Reef Fund, which witnessed very high demand and oversubscription.

Investors who are interested in leveraging the ADIH team's experience can participate in Al Joud by subscribing for the available 10,000,000 units at a price of $10 each, for an aggregate subscription total of $100m. The minimum subscription amount during the initial offer period is $100,000, or 10,000 units. Additional subscriptions during this period will be accepted for amounts in multiples of $50,000.

The ADIH Investment Placement teams have commenced their initial approaches to potential investors in the region.

Rashad Y. Janahi, CEO, ADIH, said, "Al Joud comes fast on the heels of numerous significant transactions that ADIH has successfully delivered to our clients. With a primary aim of diversifying our portfolio and enhancing our offerings to our customers, we are constantly seeking new products that represent the most rewarding opportunities in the region.

"With a solid track record that has surpassed expectations, we have demonstrated our team's experience and are confident that the opportunities we offer our clients will grow from strength to strength."

ADIH was established in 2005 as an investment company under the supervision of the UAE Central Bank with a capitalization of $55m. The company's core business lines are corporate finance, real estate, asset management, investment placement and investment products. Today, ADIH's portfolio is diverse in terms of sectors, countries and products. With a current focus on large-scale infrastructure and real estate products, ADIH has embarked upon major projects across the GCC, including Bahrain and Qatar, as well as several funds with a pan-Arab focus.