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Mashreq Capital to launch Islamic equity fund
- United Arab Emirates: Thursday, April 25 - 2013 at 06:21
Mashreq Bank has said its investment unit plans to set up an Islamic equity fund of up to $100m in the third quarter of this year to invest in stocks across the Gulf region, given lower returns in the bond market, Reuters has reported. Mashreq Capital hopes to raise between $75m and $100m for the fund, and will seed it with a $20m investment from the bank.
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