Abu Dhabi – Mubasher: Waha Capital has launched a new income-focused Islamic fund called 'Waha Islamic Income Fund SP' to invest in Sharia-compliant assets across the Sukuk and equity markets.

The new fund adds to the company's three existing funds in its asset management business, including the Middle East and Africa (CEEMEA) Credit Fund and the Waha MENA Equity fund, according to a press release on Sunday.

Expected to have a capacity in excess of $500 million, the open-ended fund will offer investments in global markets.

The CEO of Waha Capital, Amr Al Menhali, commented: "We are confident that the new fund will be well received because it avoids investment in prohibited or controversial activities or assets and business sectors that may be considered as particularly risky or potentially volatile. It will also only invest in entities that have relatively low gearing."