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20/11/2013 14:23 AST
The partial shutdown of the US governmental services ended on the 17 October and the US debt ceiling was raised at the 11th hour. Rasmala reports that both these factors were positive for debt markets as the partial shutdown is expected to delay Fed QE tapering in 2013 and the temporary resolution of the debt ceiling enables markets to function normally. This led to a strong fund performance in October (+1.09 per cent).
The Global Sukuk Fund's duration remained broadly unchanged at 3.28 years (September 3.23 years) as did the weighted average yield to maturity of the Fund to 3.77 per cent (August 3.76 per cent). The Fund's weighted average credit rating remains unchanged at Baa2/BBB.
The Rasmala Global Sukuk Fund invests in a portfolio of Shari'ah-compliant assets comprised primarily of investment grade government, government related and corporate Sukuk and other similar Shari'ah-compliant financial instruments diversified by issuer, sector, geography and duration. The Fund is dynamically managed and targets both income and capital appreciation. The Fund expects to distribute semi-annual dividends around 30 June and 31 December.
The Fund retains its exposure to the high beta emerging market of Turkey which, despite the well-documented challenges facing the country, continues to offer an attractive risk adjusted return over the medium term.
CPI Financial
27/04/2016
Rasmala, an independent investment management group, has posted a profit of £0.25 million ($363,500) for 2015 as compared to £0.6 million during the previous year, marking a fall of 58.3 per cent. <
Trade Arabia
18/12/2013
The EIIB-Rasmala Group was named 'Best Islamic Bank in Europe at the Islamic Business & Finance Awards 2013.
Zak Hydari, Chief Executive of EIIB-Rasmala, said, "2013 has been another mile
CPI Financial
19/11/2013
Investment bank EIIB-Rasmala has broadened its product range with the launch of the Rasmala Trade Finance Fund. This follows a series of new fund launches in 2013, including the Rasmala Global Sukuk
CPI Financial
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29/03/2025
China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese econo
Reuters
28/03/2025
Qatar Islamic Insurance Group convened its Annual General Assembly Meeting for the year 2024, yesterday. The Board proposed to the assembly distribution of cash dividends of 50% of the paid-up capita
The Peninsula
28/03/2025
Sabic, a global leader in diversified chemicals, today (Martch 27) reaffirmed its advocacy for sustainable growth through innovation and collaboration at the Boao Forum for Asia (BFA)'s Annual Confer
Trade Arabia
28/03/2025
AD Ports, a leading facilitator of global trade, logistics, and industry, has announced the signing of a 50- year agreement with Oylz Terminals, a UAE based oil supply and distribution provider to de
Trade Arabia
28/03/2025
Modon Holding, an Abu Dhabi-based holding company, and Elsewedy Industrial Development, one of Egypt's leading integrated industrial and logistics cities developers, have signed a letter of intent (L
Trade Arabia
Financial Information Co.
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