CB Richard Ellis Group and Reech AiM Group have formed a joint venture to set up property hedge funds with a UK and European focus. Launched successfully on May 12th, the Iceberg Alternative Real Estate is a relative value commercial real estate hedge fund.
With Goldman Sachs as prime broker, Iceberg Alternative Real Estate is aiming for a 12% volatility rate and a return equivalent to Libor plus 15%. Libor is the London Interbank Offered Rate, a benchmark for borrowing, currently at 5.3%.
The hedge fund has a minimum investment of £500,000 ($991K). With a 24 month lockup period, Iceberg has a 1.5% management fee and 15% in performance fees.
Iceberg is, "the first true hedge fund play offering an opportunity to invest in a new asset class," according to the hedge funds chairman Christopher Reech." Real-estate hedge funds are going to provide new risk and return dimensions to traditional physical property exposure.' Iceberg already has commitments for $240 million.
Martin Samworth, Managing Director of CB Richard Ellis, adds, “Our joint venture with Reech AiM and the launch of the Iceberg Fund are examples of the growing financial sophistication of the real estate markets and the opportunity that this represents for our business.
CB Richard Ellis Group, Inc. is a commercial real estate services firm with full-service operations in metropolitan areas worldwide. The Company offers a range of services to occupiers, owners, lenders and investors in office, retail, industrial, multi-family and other commercial real estate assets.
Reech AiM Group is an investment management company, managing absolute return funds for institutions, high-net-worth individuals, charities, endowments and foundations, the company was created as a 'next generation' alternative investment management company to address today's hedge fund market challenges, the lack of liquidity and scalability.
16 May 2007
Global Investment House launches Global Islamic Fund of Funds
Global Investment House announced the launch of the 'Global Islamic Fund of Funds', an open-ended fund of funds investing in local and international Shari'a compliant funds. The new fund will invest in all types of funds such as equity, real estate, hedge funds and private equity funds compliant with the Shari'a law.
Executive Vice President Sameer Al-Gharaballi said, "The fund's objective is to provide long term capital appreciation with reduced risk by investing in a diverse basket of Shari'a compliant funds and instruments."
He added that the fund's strategy is to invest the majority of its assets in a core of "carefully selected Islamic funds that complement each other in risk and return."
Miss Badria Al-Humaidhi, Senior Investment Analyst in Global said "There are over 300 Islamic financial institutions operating in 75 countries with combined assets exceeding $300 billion, and an annual growth rate of 15%. Additionally, Islamic funds assets have had a rapid growth in the past decade, their AUM has exceeded $300 billion as of 2006, with a significant amount attributable to the growth of the GCC stock markets."
The fund has a minimum investment of $25,000 with a monthly subscription frequency and quarterly redemptions after the lockup period.
Global has been tracking Islamic fund managers for over five years and has a vast experience in the Islamic Financial Markets which has resulted in the launching of three Islamic Real Estate Funds; Global GCC Real Estate Fund, Global US Real Estate Fund and Global Asia Real Estate Fund along with a range of Equity funds such as Al-Durrah Islamic Fund and Global Islamic GCC Large Cap Fund, as well as a Money Market fund, Global Islamic Fund.
Global currently manages more than 30 investment funds of varying strategies and investment objectives, with returns exceeding market indices.
Executive Vice President Sameer Al-Gharaballi said, "The fund's objective is to provide long term capital appreciation with reduced risk by investing in a diverse basket of Shari'a compliant funds and instruments."
He added that the fund's strategy is to invest the majority of its assets in a core of "carefully selected Islamic funds that complement each other in risk and return."
Miss Badria Al-Humaidhi, Senior Investment Analyst in Global said "There are over 300 Islamic financial institutions operating in 75 countries with combined assets exceeding $300 billion, and an annual growth rate of 15%. Additionally, Islamic funds assets have had a rapid growth in the past decade, their AUM has exceeded $300 billion as of 2006, with a significant amount attributable to the growth of the GCC stock markets."
The fund has a minimum investment of $25,000 with a monthly subscription frequency and quarterly redemptions after the lockup period.
Global has been tracking Islamic fund managers for over five years and has a vast experience in the Islamic Financial Markets which has resulted in the launching of three Islamic Real Estate Funds; Global GCC Real Estate Fund, Global US Real Estate Fund and Global Asia Real Estate Fund along with a range of Equity funds such as Al-Durrah Islamic Fund and Global Islamic GCC Large Cap Fund, as well as a Money Market fund, Global Islamic Fund.
Global currently manages more than 30 investment funds of varying strategies and investment objectives, with returns exceeding market indices.
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