Sunday, November 18, 2007

AmOasis fund outperforms DJ Islamic Market Index

BusinessTimes

THE returns of AmInvestment Bank Bhd's first global Islamic fund, AmOasis Global Islamic Equity, has outperformed its benchmark Dow Jones Islamic Market Index (DJIMI).

AmInvestment managing director T.C. Kok said in 18 months since the launch of the country's first syariah- compliant equity fund in April 2006, the fund has given a return of 18.75 per cent.

Not only did it outperform DJIMI, the fund also did better than other global funds offered in Malaysia for the same period, he said at a briefing in Kuala Lumpur yesterday.

AmOasis invests in the Dublin-listed Crescent Global Equity Fund, which in turn invests in shares of syariah-compliant companies across the globe.

The fund has an outstanding track record and has for the period of 2000 until September 2007 returned 152.4 per cent and 14.5 per cent on annualised basis.

This is well in excess of the average syariah global equity fund which has returned 3.7 per cent annualised over the same period, said AmOasis senior executive director Hassan Motala.

AmOasis is managed by Cape Town-based Oasis Crescent Capital Pty Ltd, a firm which manages over US$5 billion (RM16.9 billion) in assets.

Hassan said Crescent Global Equity Fund is an award winning fund, the recent one being awarded the Best Islamic Global Fund at the Islamic Funds World conference in Dubai last week.

The fund, rated "AA" by rating agency Standard & Poor's had in 2005 and 2006 won the Best Global Equity Fund from Failaka Islamic Fund Awards.

AmInvestment meanwhile manages 37 unit trust funds worth RM19 billion.

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