Dubai – Mubasher: Arqaam Capital on Monday announced the launch of two “specialist fixed income funds” at Dubai International Financial Centre (DIFC), following approval from the Dubai Financial Services Authority (DFSA).

The two funds are Arqaam High Income Fund, which invests in emerging markets with a focus on the MENA region, and Arqaam Islamic Fixed Income Fund, which invests in regional and global diversified Shariah-compliant securities (Sukuk), the company said in a press release.

The two funds have been developed entirely within the DFSA’s Collective Investment Fund Regime, the company added, noting that the two funds are denominated in US Dollar and pegged currencies, and will target an annual return of 7% and 6% respectively.

“By domiciling these funds in DIFC, Arqaam Capital is utilising the DFSA’s recently updated Fund Regime and our supportive infrastructure to build a solid platform from which they can access investors around the world.” chief business development officer at DIFC authority Salmaan Jaffery said.

“The emerging markets debt universe and the global Sukuk market offer a wealth of attractive opportunities and a host of benefits to investors, including diversification, lower volatility and greater liquidity.” president of GCC at Arqaam Capital Tarek Lotfy said.