UK: Ethical Asset Management, a local Shariah compliant asset management company, has launched an investment Sukuk fund which is set to raise GBP200 million (US$320 million) for assets in the UK student accommodation sector.
The fund, which is domiciled in Jersey, will acquire existing income-producing properties located in university towns and cities throughout the UK without using any debt or leverage.
It will also provide investors with full ownership of those properties.
The firm is expecting net annual returns of between 4-6% for the fund.