GFH launches GCC $100m sukuk fund

GFH Financial Group (GFH) has launched and seeded a $100 million sukuk fund which holds a diversified portfolio of sukuk following signing agreement with Credit Suisse to provide attractive financing and fund administration services.

The fund holds a portfolio of sovereign, quasi sovereign and corporate sukuk and sukuk-related securities from various countries and issuers, primarily in the GCC and will be managed in accordance with Sharia principles.

GFH aims to generate returns to the fund through active asset allocation, credit selection, optimal leverage and duration management to achieve an above average long-term investment return on a risk adjusted basis.

According to GFH head of asset management Salem Patel, the new fund aims to capitalise on post-pandemic economic growth and recovery.

“The market is becoming more bouyant as economies in the GCC recover amid a revival of key sectors. Global borrowers have issued more than $23 billion of Sharia-compliant debt in 2021 and sukuk supply is expected to accelerate in 2022, he added.

“GFH has a dedicated, highly knowledgeable and experienced investment team who will manage the fund’s investment portfolio. Our team is deeply experienced in credit analysis, portfolio construction and has strong market relationships to access highly-sought-after primary issuances.”




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