New Star launches Islamic property fund

The Emirates Islamic Global Property fund will focus on the continental European and Asia Pacific property markets and will use an Islamic certificate linked to a reference real estate index to derive its returns. It will reflect the performance of New Star’s mostly bricks-and-mortar fund, managed by Stuart Webster. There are two share classes available at launch – an institutional class with a minimum investment of US$1m and a sophisticated investor class with a minimum investment of US$25,000. Annual management charges are 1.25% and 1.5% respectively. Commenting on the launch, David Mar...