Deutsche Bank unveils first Islamic fund

7 December 2006

Deutsche Bank has announced the launch of its first Islamic fund through its global mutual fund arm DWS Investments.

The Shariah law-compliant range of funds has been developed specifically to meet the needs of Islamic investors in the United Arab Emirates (UAE) and Bahrain, the bank said.

The funds, to be called DWS Noor Islamic Funds, will later be offered to investors in other areas of the Middle East, Asia and Europe.

"DWS Investments is today among the top ten asset managers globally, with steady growth anticipated in key emerging regions such as the Middle East and Asia," commented Scott Jaffray, the architect of the DWS Noor Islamic Funds range.

"We aim to continually expand the DWS Noor offering into further asset classes and investment styles, delivering a range of Islamic products with the same breadth and depth as our conventional mutual fund range."

The funds are now available to both institutional and retail investors in UAE and Bahrain.

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