ASB Capital, a purpose-driven asset management firm, has announced that it will launch a new global equity Shari’a fund which will be managed in partnership with State Street Global Advisors (SSGA).
The Fund will provide institutional investors, family offices, and individual investors exposure to a broad universe of publicly listed companies across global equity markets.
According to the statement, the Fund, which will be domiciled in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA), leverages, through delegation of investment management to SSGA, SSGA’s decades-long expertise in active equity management to deliver long-term value for investors seeking Shari’a-compliant, ethical investment solutions.
Managed by SSGA’s Active Fundamental Equity team, which oversees $18 billion in assets under management (AUM) as of Dec 31, 2024, the Fund leverages a research-driven investment approach honed over 30 years. With the backing of SSGA’s proprietary Confidence Quotient Framework, the team identifies high-quality, durable-growth companies with strong fundamentals and attractive valuations.
Hichem Djouhri, Senior Executive Officer at ASB Capital, said that, “The Fund reflects ASB Capital’s ongoing commitment to innovation and forming strategic partnerships with renowned global asset managers, unlocking access to global markets for investors in the region and beyond. Our collaboration with State Street Global Advisors allows us to offer investors unique opportunities to diversify their portfolios across sectors and geographies.”
“Together, we are bringing world-class investment opportunities to the region and advancing the growth of Shari’a-compliant ethical investment solutions. The global Shari’a-compliant finance industry is expected to surpass $3.5 trillion by 2025, driving an increasing demand for ethical investment products,” Djouhri commented.
Emmanuel Laurina, Head of Middle East & Africa, from State Street Global Advisor, noted that, “State Street Global Advisors brings decades of expertise in managing global equity strategies, including Shari’a compliant ethical investment solutions, to meet growing demand in the region.”
“By working with ASB Capital, we combine their deep regional insight with our global capabilities, providing investors with access to a curated portfolio of high conviction and high-quality global equities. This collaboration allows us to deliver a sustainable, investment product that aligns with the rising demand for Shari’a-compliant ethical investment solutions focused on strong fundamentals and targeting long-term growth,” Laurina added.
