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25 May 2007

Ernst & Young Launches Islamic Funds & Investment Report 2007

1st Annual Ernst & Young Islamic Funds & Investments Report (IFIR) is being launched to address the landscape of Islamic Private Equity market. The inaugural report will focus on the spectrum of asset classes and drivers that will have the most significant impact on the industry.

With the Islamic Private Equity market set for a boom, and Islamic Alternative Investments attracting increasing interest; the stage is now set for the launch of the 1st Annual Ernst & Young Islamic Funds & Investments Report (IFIR).

Reflecting these challenges and opportunities, the inaugural Islamic Funds & Investments Report will focus on the spectrum of asset classes and drivers that will have the most significant impact on the industry.

The objective of the IFIR is not to analyze the performance of investment funds, but rather to provide new insights into the market, pinpoint critical success factors and identify key trends that will shape the immediate future of the industry.

Sameer Abdi, Group Head of the Islamic Financial Services Group for Ernst & Young said, “The Islamic funds industry has grown tremendously in size and product depth in the last five years. With ever increasing investor demand to satisfy, there remains immense potential for the future growth of this sector.

Ernst & Young will launch the report at the Pre-Conference Executive Briefing at The World Islamic Funds & Capital Markets Conference on 26th May at the Gulf Hotel in the Kingdom of Bahrain.

The Executive briefing will be led by Sameer Abdi, Group Head – Islamic Financial Services Group & Ali Arsalan Tariq, Senior Consultant, Ernst & Young Bahrain, where the Key Developments & Trends in the Islamic Funds Industry that will Shape the Market will be discussed.

Syz & Co Launches Two Spanish Funds of Hedge Funds

In a press release today, Swiss banking group SYZ & CO and Madrid-based asset management firm A&G Fondos, Asesores y Gestores Financieros Fondos, announced two Spanish-regulated funds of hedge funds, AYG SYZ Multi Strategy and AYG SYZ Low Volatility vehicles. Both offerings should be approved in the coming weeks by the CNMV, the Spanish regulator, according to the firms.

The AYG SYZ Multi Strategy fund will invest in a diversified portfolio of hedge funds, combining different strategies such as equity long/short, arbitrage, global macro, market neutral, and managed futures. The AYG SYZ Low Volatility fund will also invest in a diversified portfolio of hedge funds, but concentrating on the least volatile strategies, to offer a steadier potential return with a lower risk level, according to the firms.

New Spanish regulations on funds of funds require the fund manager to be a Spanish entity holding a specific license for that purpose. A&G will act as manager of the new offerings and will be in charge of their marketing in Spain, while SYZ & CO will advise A&G through its alternative management division, 3A SA.

The two funds will be euro-denominated, with a minimum investment of €100 ($135). An annual management fee of 1.5% will be charged for both funds and a performance fee of 8% for the Multi Strategy and 5% for the Low Volatility.

Asesores y Gestores Financieros was founded in 1987 and focuses on managing private assets. In 2005, A&G Fondos SGIIC, the group’s investment fund management company, obtained its European passport from the Luxembourg regulator CSSF. At the end of April, A&G Fondos SGIIC managed a total of €337 million ($453.6 million). Assets managed by the entire group totaled €2.9 billion ($3.9 billion) as of the end of April.

Alex Akesson

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