DIB’s new equity fund to focus on Asia-Pacific

Dubai Islamic Bank (DIB) on Monday launched an equity fund for investors interested in exposure to Asia-Pacific equity markets.

The Prudential Shariah Opportunities - Asia Pacific Equity Fund (the Fund), the fund is offered by Prudential Asset Management Limited, based at DIFC. The fund will seek to invest in Shariah-compliant companies in the Apac region, excluding Japan.

Benchmarked against the Dow Jones Islamic Market Asia Pacific ex-Japan Index, participation in the fund allows investors to gain exposure across a range of growth countries and industries through a single platform.

Dr. Adnan Chilwan, Deputy CEO - Chief of Consumer and Wholesale Banking, Dubai Islamic Bank, said: “The Asia Pacific region has emerged as an anchor for the global economic recovery and, driven by consumption and investment, is poised for further growth. This new product is in line with DIB’s commitment to introduce pioneering, high quality financial products. It is designed for our valued high net worth customers who understand the opportunities presented by the Asia Pacific equities markets, and would like to capitalise on the same.”

According to estimates by brokerage firm Credit Lyonnais Securities Asia, Asia’s rapidly expanding middle-class population is forecast to reach the one billion mark by 2015. Meanwhile, Asian consumer spending is estimated to grow from $4.3 trillion in 2008 to $32 trillion by 2030, representing roughly 43 per cent of global consumption.

The pace of urbanisation in Asia-Pacific is unparalleled by any other region in the world. The United Nations estimates that the population of Asian cities is expected to increase from 1.8 billion in 2010 to a staggering 3.4 billion in 2050, creating massive infrastructure investment opportunities for the private sector.

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