SAM broadens its suite of water funds
- From: Vol 10, Issue 8 (August 2009)
- Category: General
- Region: Europe
- Country:
- Related Companies: American States Water, CalAm, Danaher, Gatehouse Bank, Pall Corp and Sustainable Asset Management
The growth of Islamic investments has convinced one of the leading water fund managers to create a Shariah compliant water fund. It also plans to launch a small-cap investment vehicle later this year.
Swiss-based Sustainable Asset Management AG (SAM) launched its new Islamic water fund on 1st August, creating the first ever Shariah-compliant investment vehicle in the water space. The fund was launched with $10 million of seed capital from UK-based Gatehouse Bank, and has a target size of $300-400 million.
"Gatehouse Bank approached us because they saw the need for a product ...
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