UK: Cur8 Capital, a Shariah compliant wealth management firm in the UK, has announced the launch of its new US dollar-denominated income fund aimed at Islamic investors seeking asset-backed investment options.
The fund offers exposure to fully Shariah compliant, asset-backed financing and leasing facilities in collaterized debt financing and working capital solutions in Uzbekistan and other countries in the Commonwealth of Independent States, the UAE, the UK and the US.
UK-based investors can benefit from the Cur8 USD Income Fund through the firm’s Innovative Finance Individual Savings Account, which allows UK taxpayers to invest up to GBP20,000 (US$26,398.6) per year in a tax-free wrapper.
The firm is positioning the fund as a relatively low-risk offering, securing its investments by prioritizing collaterized financing opportunities. Whenever possible, the fund takes security over assets or puts in place guarantees, bolstering investor protection, according to Cur8.
Investment security is carefully ensured through credit and cashflow analysis, selecting experienced investment partners with robust and rigorous financing criteria, the firm added.
The new fund joins a growing Shariah compliant-focused market. According to IFN Investor data, there are 54 USD income funds globally domiciled in Saudi Arabia, the US, Luxembourg, the UAE, Malaysia, Brunei and Ireland, among other jurisdictions.
