Firms Launch Sharia’a Compliant Indian Fund

December 9, 2010 ( – Qatar investment bank QInvest and India financial services company Ambit have launched the Ambit QInvest India Fund, an open ended Sharia’a compliant Indian Equities Fund.

The firms say the fund is the region’s first and India’s largest Sharia’a Compliant equity fund. According to a press release, the fund offers an attractive entry point for investors to leverage the potential for long term price appreciation underpinned by strong growth drivers in the Indian market.  

QInvest’s CEO, Shahzad Shahbaz said the fund’s performance in the last three months, since inception, is 10.4%. 

The announcement noted that over 6,000 listed companies boasting in excess of $ 1.3 trillion market capitalization has enabled the Indian stock market to be ranked as one of the best performance among emerging markets. India has provided consistent returns to stock market investors in the last five years in overall terms.   

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