SAUDI ARABIA: Samba Capital, the investment arm of Samba Financial Group, has launched the Al Nafees Global Commodities Equity Fund, a Shariah compliant, US dollar-denominated open-ended fund.
The fund will target global Shariah compliant equities that derive their main revenues from the production and distribution of basic commodities.
It will be benchmarked against the MSCI ACWI Islamic Select Commodities Related Capped Index and will invest in five categories of global commodity producers relating to agriculture, energy, base metals, precious metals and other commodities such as renewable energy, timber and water.