DCG Capital to debut new Islamic equities fund mid-August

alt="IFN Global Forum 2014"> 33 days to go Wednesday 13th August 2014 > DCG Capital to debut new Islamic equities fund mid-August Daily Cover SINGAPORE: Boutique asset management firm DCG Capital has partnered with Fortune Capital Management (as sub-advisor) to launch a long-only Shariah compliant Asia ex- Japan equities fund in mid-August. Daniel Chan, CEO of DCG, spoke exclusively to IFN to reveal the reasons behind the launch. “With the recent rapid growth of the Islamic finance industry we feel that there [will] be demand for a high quality product which could capitalize on the tremendous growth potential of the Asian region yet satisfy the stringent criteria of being Shariah compliant." Lee Yuen Wai, the managing director of Fortune Capital Management, again speaking exclusively to IFN, agreed that: “We have the benefit of being in a region where the demand for Islamic asset management has grown tremendously, particularly in the wealth management space, driven by the increasing fund flows between Asia and the Middle East. As such, we see a lot of demand from institutional investors and high net-worth individuals for a quality Islamic equity fund – particularly one with an Asia-focused strategy.” Chan has a proven track record in investment management, with over 30 years experience including with UOB Bank and Lion Global Investors. He has managed the DCG Asia Value Fund since September 2011, adopting a research-driven ‘value-investing’ approach to identify attractive long-term investment and achieve a 20% return per annum. As of the 30th June, the fund is up 8.8% year-to-date. Excluding Australia and Japan, Asia’s GDP per capita stands at US$6,000, far short of the OECD average of US$46,000. However according to Chan favorable demographics, rising disposable income, low debt ratios, a fast growing middle class and rising inward foreign direct investments make the region’s long-term growth potential tremendous. Rising urbanization, increased spending on infrastructure, education and health care, increased financial intermediation and rising consumption will also boost investment opportunities. Today’s IFN Alerts PAKISTAN: National Bank of Pakistan to begin due diligence for potential acquisition of Shariah compliant Burj Bank BAHRAIN: Gulf Finance House plans US$200 million Sukuk to fund project development in Bahrain and Dubai UK: Gatehouse Bank considering new avenues to generate revenue including an online deposit product slated for December UAE: Emirates procures US$425 million Shariah compliant financing facility to acquire two Airbus A380s UAE: Al Etihad Credit Bureau to open its doors in September BAHRAIN: Central Bank of Bahrain's monthly Sukuk Ijarah oversubscribed by 315% MALAYSIA: Islamic finance regulators working to reduce influence and fees of Islamic scholars GLOBAL: Opportunities in Africa for the growth of Sukuk, Takaful and Islamic funds according to report EGYPT: Faisal Islamic Bank to build new operational framework using SunGard's enterprise risk management solutions BAHRAIN: Arab Banking Corporation marks first half of 2014 with 22% net profit growth TURKEY: Increasing government pressure pushes Bank Asya's second quarter net profit down by 81% UAE: Takaful Emarat Insurance continues positive earnings uptrend with AED1.08 million (US$293,984) net profit for the second quarter Latest Roundtables June 2014 May 2014 Dubai Islamic Economic Roundtable Series 2014-2 > Dubai Islamic Economic Roundtable Series 2014-1 Events IFN Global Forum 2014 15th - 16th September 2014 by REDmoney events IFN Kuwait Forum 2014 29th September 2014 by REDmoney events IFN Sri Lanka Forum 2014 21st October 2014 by REDmoney events IFN Africa Forum 2014 4th November 2014 by REDmoney events IFN Turkey Forum 2014 6th November 2014 by REDmoney events IFN Saudi Arabia Forum 2014 17th November 2014 by REDmoney events IFN Egypt Forum 2014 1st December 2014 by REDmoney events Training Advanced Sukuk & Islamic Securitization 19th - 21st August 2014 (Istanbul) by Islamic Finance training Structuring Corporate Banking Solutions 8th - 10th September 2014 (Dubai) by Islamic Finance training Islamic Treasury and Risk Management Products 22nd - 24th September 2014 (Kuala Lumpur) by Islamic Finance training Islamic Fund and Asset Management 25th - 26th September 2014 (Kuala Lumpur) by Islamic Finance training Advanced Sukuk & Islamic Securitization 10th - 12th November 2014 (Kuala Lumpur) by Islamic Finance training Advanced Sukuk & Islamic Securitization 8th - 10th December 2014 (Dubai) by Islamic Finance training © Copyright policy: No part of IslamicFinancenews.com may be reproduced in any form by any means, electronic or mechanical (including photocopying, recording or information storage and retrieval) without permission in writing from the publisher. 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