ASB Capital Partners with State Street to Launch Shari’a Compliant Fund
Funding | Apr 14, 2025 | EIN
ASB Capital, an asset management firm, has announced the launch of a new global Shari’a-compliant equity fund in partnership with State Street Global Advisors (SSGA). This new fund will provide regional and international investors with exposure to a wide range of public equity markets, capitalizing on SSGA's prowess in managing active equity strategies. Domiciled in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, this fund aims to deliver long-term, ethical investment solutions with a focus on broad market access. The collaboration is intended to tap into the growing demand for Shari’a-compliant investments, leveraging the regional insights of ASB Capital with SSGA's global management capabilities. Executives from both firms, including Hichem Djouhri from ASB Capital and Emmanuel Laurina from State Street Global Advisors, have emphasized their commitment to bringing world-class investment opportunities to the region, promising new avenues for diversified investment aligned with ethical standards.
Sectors
- Asset Management
- Shari’a Compliant Investments
- Global Equity Markets
Geography
- United Arab Emirates – The fund is domiciled in the Dubai International Financial Centre, UAE, with a focus on regional investor access.
- Global – The focus on global equity markets means the fund has international implications beyond just the UAE.
Industry
- Asset Management – The article is centered around ASB Capital, an asset management firm, launching a new equity fund.
- Shari’a Compliant Investments – ASB Capital is launching a fund specifically catering to demand for Shari’a-compliant, ethical investment solutions.
- Global Equity Markets – The fund provides exposure to publicly listed companies worldwide, leveraging State Street Global Advisors' global equity strategy expertise.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ASB Capital | Target Company | Company | An asset management firm launching a new Shari’a compliant global equity fund. |
| State Street Global Advisors | Bidding Company | Company | Partnered with ASB Capital to manage the new equity fund, bringing expertise in global equity strategies. |
| Dubai Financial Services Authority | Regulatory Body | Government | The body regulating the fund, ensuring compliance with legal and ethical standards. |
| Hichem Djouhri | Senior Executive Officer | Person | Executive at ASB Capital responsible for strategic partnerships. |
| Emmanuel Laurina | Head of Middle East & Africa | Person | State Street Global Advisors executive involved in the regional strategy. |
| Michael Solecki | Chief Investment Officer for Active Fundamental Equities | Person | State Street Global Advisors executive overseeing equity strategy. |