Financial Daily from THE HINDU group of publications
Tuesday, Nov 29, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 29, 2005 |
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Markets
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Mutual Funds Al-Madina launches India-dedicated fund Our Bureau
Kolkata , Nov. 28 FOR West Asian investors, including NRIs, Al-Madina has launched an India Fund, first such regional investment vehicle dedicated towards Indian equities. The subscription for the $171-million fund would close December 21 and the maximum of subscription in the fund units would be in 1,000 units. Al-Madina, a Shariah-compliant investment intermediary, located in the Persian Gulf region and is backed by Gulf Bank, National Investment Company, M S Holding and Gulfinvest International. UTI International, a Channel Island located subsidiary of UTI Asset Management, is the advisor to the fund.
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