DIB unveils Sharia-compliant Asia Pacific Equity Fund

  • DIB provides investors access to Prudential Shariah Opportunities -Asia Pacific Equity Fund
  • Fund invests in Sharia-compliant equities in firms across Asia Pacific (APAC), excluding Japan
  • Benchmarked against DJIM Asia Pacific ex-Japan Index

Dubai Islamic Bank (DIB) unveiled today a new opportunity for regional investors to participate in the rapidly growing economy of Asia. The Prudential Shariah Opportunities – Asia Pacific Equity Fund (the Fund), endeavors to provide medium to long-term capital appreciation by investing in Sharia-compliant companies within the Asia Pacific region (excluding Japan).

Capitalising on the sustained economic growth and increasing wealth across the APAC region, the Fund is offered by Prudential Asset Management Limited, based at DIFC. The Fund will seek to invest in Sharia-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 1 billion mark by 2015. Meanwhile, Asian consumer spending is estimated to grow from US$4.3 trillion in 2008 to US$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.

The Prudential Shariah Opportunities – Asia Pacific Equity Fund offers lucrative access to the growth story of Asia Pacific, including but not limited to many of the companies that will be supporting the APAC region’s increasing prosperity in the years to come.