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Boubyan Capital to launch multi-asset fund

Boubyan Capital to launch multi-asset fund
UK-based Franklin Templeton will operate as a sub-manager (Photo Credit: Mubasher)
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Kuwait-Mubasher: Boubyan Capital, the investment arm of Boubyan Bank, announced the launch of a KWD 3.32 billion worth multi-asset fund that is denominated in the U.S. dollar.

The announcement follows the Capital Markets Authority’s move to grant a collective investment scheme license to the Boubyan Fund.

Boubyan Capital’s fund will have a capital up to $1 billion, and will be compliant with Sharia, said CEO Saleh Al Ateeqi.

Boubyan Capital’s investment fund will have a variable capital with a $5,000 minimum level of subscription, with a possible additional subscription offering at a minimum of $250, Al Ateeqi noted.

The fund will allow the entrance and exit of investors on a monthly basis to achieve competitive returns, the CEO said, adding that it will invest in other regional and international funds that cover several fields.

The UK-based Franklin Templeton will operate as a sub-manager to the multi-asset fund.