ASB Capital, a purpose-driven asset management firm, announced it will launch a new global equity Shari’a fund which will be managed in partnership with State Street Global Advisors (SSGA). The Fund will provide institutional investors, family offices, and individual investors exposure to a broad universe of publicly listed companies across global equity markets. The Fund, which will be domiciled in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA), leverages, through delegation of investment management to SSGA, SSGA’s decades-long expertise in active equity management to deliver long-term value for investors seeking Shari’a-compliant, ethical investment solutions.
Managed by SSGA’s Active Fundamental Equity team, which oversees USD 18 billion in assets under management (AUM) as of Dec 31, 2024, the Fund leverages on a research-driven investment approach honed over 30 years. With the backing of SSGA’s proprietary Confidence Quotient Framework, the team identifies high quality, durable-growth companies with strong fundamentals and attractive valuations.
“The Fund reflects ASB Capital’s ongoing commitment to innovation and forming strategic partnerships with renowned global asset managers, unlocking access to global markets for investors in the region and beyond,” said Hichem Djouhri, Senior Executive Officer at ASB Capital. “Our collaboration with State Street Global Advisors allows us to offer investors unique opportunities to diversify their portfolios across sectors and geographies. Together, we are bringing world-class investment opportunities to the region and advancing the growth of Shari’a compliant ethical investment solutions. The global Shari’a compliant finance industry is expected to surpass USD 3.5 trillion by 2025, driving an increasing demand for ethical investment products.”
Emmanuel Laurina, Head of Middle East & Africa, from State Street Global Advisors added, “State Street Global Advisors brings decades of expertise in managing global equity strategies, including Shari’a compliant ethical investment solutions, to meet growing demand in the region. By working with ASB Capital, we combine their deep regional insight with our global capabilities, providing investors with access to a curated portfolio of high conviction and high-quality global equities. This collaboration allows us to deliver a sustainable, investment product that aligns with the rising demand for Shari’a compliant ethical investment solutions focused on strong fundamentals and targeting long-term growth.”
Michael Solecki, Chief Investment Officer for Active Fundamental Equities from State Street Global Advisors, said: “We are pleased to be collaborating with ASB Capital on this exciting opportunity bringing our unique focus on quality, durable growth and reasonable valuation to their platform.”
Launched earlier this year with a starting AUM of US$4.5 billion, ASB Capital is committed to providing innovative investment solutions to meet the evolving needs of institutional and individual investors. By focusing on sustainability and long-term growth, the firm aims to support the region’s growing appetite for ethical investment strategies that align with global financial trends.
