Unlike other Shariah-compliant capital protected funds, the HSBC Amanah Dynamic Allocation Shield Fund invest in a diversified portfolio of up to 60 stocks selected from the DJIM World Index to deliver long term capital appreciation. The portfolio of the Fund is however constantly monitored and rebalanced through a market sensitive Dynamic Allocation Policy, which provides indications on the optimal split between equity investments and other safer short-term Shariah-compliant investments to ensure that the Fund is able to deliver the stated level of capital protection at maturity irrespective of equity market performance.
Investors will be able to subscribe for shares at the net asset price announced by the Fund at the end of each calendar month and will enjoy a degree of capital protection at maturity depending on the paid purchase price. The maturity date is 31st December, 2008.
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HSBC reopens subscriptions for Dynamic Allocation Shield Fund
- United Arab Emirates: Tuesday, September 07 - 2004 at 10:52
- PRESS RELEASE
HSBC Amanah has re-opened subscriptions in the Dynamic Allocation Shield Fund, the fifth issue in the Shariah compliant HSBC Amanah Principal Protected Fund series, providing the chance to invest in some of the largest Shariah-compliant international companies whilst limiting the risk of losses on the capital invested.
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1. HSBC Holdings plcHSBC Bank Middle East is a principal member of the HSBC Group which, with about 10,000 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa and USD1,154 billion at 30 June 2004, is one of the world's largest banking and financial services organisations.
2. HSBC Amanah
HSBC Amanah is the Islamic financial services division for the HSBC Group responsible for the development of Islamic financial products for distribution to customers of the HSBC Group. Its mission is to ensure that HSBC is the leading provider of value added Islamic financial products and services. Headquartered in Dubai with regional representations in Bangladesh, Brunei, Indonesia, Malaysia, Saudi Arabia, Singapore, UAE, UK and US, HSBC Amanah is uniquely positioned to understand, structure and deliver financial solutions that are compatible with the requirements of Shariah (Islamic law).
The HSBC Shariah Supervisory Committee comprises:
Justice (Retd.) Muhammad Taqi Usmani
Shaykh Nizam Yaquby
Dr. Mohamed Ali Elgari
Dr. Muhammad Imran Ashraf Usmani
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, September 07 - 2004 at 10:52 UAE local time (GMT+4)
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