The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
ANZ Investment Bank has extended the offer period on its specialised Islamic fund until the end of December to attract more private investors.
Launched in May, the Guernsey-registered First ANZ International Modaraba fund (FAIM) is a specialised investment vehicle complying with Sharia investment laws. The minimum lump sum investment in the fund for private players is $10,000.
The fund has so far raised $25m from institutions and a further $15m is expected in commitments and disbursements. The group hopes to raise $100m by the end of December, says Global Islamic Finance manager Rashid Rab.
He is confident FAIM will be able to raise $50m from private investors as "there is a lot of money in the Middle East, especially in Saudi Arabia".
The fund aims to generate strong US dollar returns from a portfolio giving it a broad exposure to emerging markets, says ANZ Global Islamic Finance director Tariq Husain.
Following principles of Islamic law, the fund will provide medium-term finance for mainly private-sector physical assets including plant and machinery, aircraft, containers, computers and commercial vehicles.
"The fund presents investors with an ideal opportunity to invest in Islamic finance. We have had a great response from institutions and expect the fund to be warmly received by private investors," says Husain.