HSBC Amanah to roll out Sukuk fund
- Saudi Arabia: Sunday, May 31 - 2009 at 09:28
HSBC Amanah plans to raise $100m for its first Islamic bond fund, which it plans to start marketing on Monday. The HSBC Amanah Sukuk Fund, domiciled in Saudi Arabia, will comprise Islamic bonds, or Sukuk, issued by 12 to 14 companies, mostly in the real estate, commercial banking and utilities sectors based in the GCC. The fund has a four-year maturity and will target mid- to high-single-digit annual returns, reporte Reuters.
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