{"id":7925,"date":"2008-06-19T00:00:00","date_gmt":"2008-06-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"barclays-capital-dubai-to-back-shariah-compliant-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2008\/barclays-capital-dubai-to-back-shariah-compliant-hedge-funds.html","title":{"rendered":"Barclays Capital, Dubai to Back Shariah-Compliant Hedge Funds"},"content":{"rendered":"<p>Bloomberg- BlackRock Inc., the largest publicly traded U.S. money manager, and Ospraie Management LLC, are among five companies that will start Shariah-compliant hedge funds based in Dubai. <\/p>\n<p>The funds will get $50 million each in so-called seed capital from the Dubai Multi Commodities Centre Authority, a government-backed agency. Barclays Capital, securities unit of Britain&#8217;s fourth-largest bank, will also back the funds which will start in the next two weeks, said Frank Gerhard, the bank&#8217;s head of fund-linked derivatives strategy in an interview. <\/p>\n<p>Shariah forbids investment in companies judged by scholars to be highly indebted, and those involved in alcohol, gambling and weaponry. Financial information companies including Standard &amp; Poor&#8217;s and Dow Jones &amp; Co. have started Islamic indexes that show only Shariah-compliant companies. The world&#8217;s Muslim community has about $3.6 trillion of combined wealth, Standard &amp; Poor&#8217;s estimated in 2006. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news%3Fpid%3D20601102%26sid%3DaNCxEehqQf24%26refer%3Duk\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg- BlackRock Inc., the largest publicly traded U.S. money manager, and Ospraie Management LLC, are among five companies that will start Shariah-compliant hedge funds based in Dubai. The funds will get $50 million each in so-called seed capital from the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[956,331,819,276,576,115,402,893,81,754,403,957,55],"class_list":["post-7925","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-credit-suisse","tag-downside","tag-dsp-merrill-lynch","tag-fourth-quarter","tag-hotel-address","tag-indefinite-period","tag-investment-firm","tag-ipo","tag-newcastle","tag-personal-reasons","tag-public-offering","tag-scarcity-of-capital","tag-sers"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7925"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7925\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}