DSAM receives the Outstanding Performance and Innovation Award

Press release

Published January 18th, 2011 - 10:33 GMT

Al Bawaba

For the second consecutive year, Dubai Shariah Asset Management DSAM Kauthar Gold Fund has been awarded the Outstanding Performance & Innovation Award at the MENA Fund Manager Awards.

The fund is part of DSAM’s Shariah-compliant Kauthar Commodity Fund. DSAM is a joint-venture between the Dubai Commodities Asset Management, the asset management division of the Dubai Multi Commodities Centre DMCC, and Shariah Capital Inc, the leading US-based Shariah financial advisor and consultant.

Accept the award, DMCC’s Executive Chairman, Ahmed bin Sulayem said:

“For the second year running DSAM Kauthar Gold Fund has been recognised for its outstanding performance and innovation. The Award-winning Kauthar Commodity Fund is the only Shariah-compliant commodity-focused hedge fund in the industry and with our disciplined approach we have delivered another year of strong returns for our investors. We are also pleased to have recently entered into an agreement to distribute the Kauthar Funds to retail investors across regional and international markets.”

The Kauthar Gold Fund produced net returns of 27% for 2010 and 67.7% in 2009. The Fund, managed by Tocqueville Asset Management, seeks to produce positive, absolute long-term returns using both long and short strategies in the Shariah compliant common shares of precious metals producers. Originally designed for institutional investors only, the Kauthar Gold Fund will soon be available to the retail investing public through Mondial LLC, a leading UAE-based financial consultant.

Eric Meyer, Chief Executive Officer, Shariah Capital adds:

“It has been another exciting year for DSAM and our four Kauthar Commodity Fund. Not only has our gold fund outperformed its benchmark and competitors, but our collective DSAM Kauthar Commodity Fund again returned net positive figures in double digits. I expect this trend to continue as recovering economies will inevitably drive commodity prices higher...”

The DSAM Kauthar Commodity Fund comprises four single strategy commodity–based funds that invest exclusively in Shariah-compliant equities. The four strategies are: The DSAM Kauthar Gold Fund; the DSAM Kauthar Energy Fund; the DSAM Kauthar Natural Resources Fund and; the DSAM Kauthar Global Resources & Mining Fund.

Background Information

Dubai Multi Commodities Centre Authority

DMCC is a government entity established in 2002 to enhance commodity trade flows through Dubai. We perform a range of roles which continue to position Dubai as the preferred destination for global commodities trade and DMCC as the world’s No.1 Free Zone.

Company Profile

Shariah Capital

Shariah Capital is a Shariah specialist focused on cross-border investment and advisory opportunities in the Shariah-compliant asset management space. At the parent level Shariah Capital creates and customizes Shariah-compliant financial products and platforms and provides highly selective Shariah advisory services primarily to global financial institutions, sovereign wealth funds, and Shariah focused investment firms. The company is well known for Dubai Shariah Asset Management (DSAM), its ongoing joint venture with the Dubai Multi Commodities Centre (DMCC), a Government of Dubai Authority, its pioneering efforts in Shariah-compliant hedge funds and fund of funds, and its longstanding relationships with leading Shariah scholars.