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Kuala Lumpur, 17 November 2009 – Al Faiz Fund 1 Limited (“Al Faiz Fund 1”), a Shariah compliant private fund established in Labuan and managed by the Kuwait Finance House (Malaysia) Berhad Group of Companies, has managed to attract some of the largest institutional and high net worth individual investors from the Middle East and Asia. Up to July 2009, the fund has a secured commitment of USD98 million (MYR331 million).
“As the catalyst in Islamic finance, we would like to encourage and drive the development of Islamic private equity in the region which would in turn, contribute to the economic growth agenda and social well-being of the people,” said Khairil Anuar bin Abdullah, Chairman of KFH Asset Management Sdn Bhd. An Islamic private equity fund, such as Al Faiz Fund 1, invests strictly in accordance to Shariah principles and values. It offers the advantage of an ethical investment product with high performance, portfolio diversification, superior risk-adjusted returns and diverse investment opportunities.
To date, seven investments have been completed in Asia through Al Faiz Fund 1. Carefully-selected investee companies include a cardiac care hospital in India, a chain of diagnostic centres in Singapore, precision engineering business in Singapore, Malaysia and China, a manufacturer of medical devices in Malaysia, a retail food & beverage chain in the Philippines and environmental management business in China.
“We continue to look out for investment opportunities primarily in the emerging economies of South East Asia as well as China and India. Plans are also underway to establish a specific fund for each country and to raise a much larger second private equity fund which would be able to position itself stronger in the South East Asia Region as well as set up permanent presence in China and India,” explained Khairil Anuar.
Launched on March 5, 2008, Al Faiz Fund 1 focuses on medium size businesses, with sales of around USD10 million (MYR33.8 million) to USD100 million (MYR338.1 million) per annum in resilient industries such as education, healthcare, food and beverage, light manufacturing, retail and distribution, consumer products as well as environmental management.
A strong positioning of the investee companies combined with active involvement by the fund manager has enabled the fund to maintain its performance despite the current challenging economic conditions. Except for the manufacturing sector, all the investees continue to chart positive growth. The healthcare-related, retail food and environmental management investee companies are expected to record double digit growth in 2009. The manufacturing investees are recording sharp recovery in the second half of the year which demonstrates the fundamental strengths.
Note: Performance is based on fund manager valuation as per the quarterly statement to Al Faiz Fund 1 investors. The period is based on year-to-date September 2009.
“As the catalyst in Islamic finance, we would like to encourage and drive the development of Islamic private equity in the region which would in turn, contribute to the economic growth agenda and social well-being of the people,” said Khairil Anuar bin Abdullah, Chairman of KFH Asset Management Sdn Bhd. An Islamic private equity fund, such as Al Faiz Fund 1, invests strictly in accordance to Shariah principles and values. It offers the advantage of an ethical investment product with high performance, portfolio diversification, superior risk-adjusted returns and diverse investment opportunities.
To date, seven investments have been completed in Asia through Al Faiz Fund 1. Carefully-selected investee companies include a cardiac care hospital in India, a chain of diagnostic centres in Singapore, precision engineering business in Singapore, Malaysia and China, a manufacturer of medical devices in Malaysia, a retail food & beverage chain in the Philippines and environmental management business in China.
“We continue to look out for investment opportunities primarily in the emerging economies of South East Asia as well as China and India. Plans are also underway to establish a specific fund for each country and to raise a much larger second private equity fund which would be able to position itself stronger in the South East Asia Region as well as set up permanent presence in China and India,” explained Khairil Anuar.
Launched on March 5, 2008, Al Faiz Fund 1 focuses on medium size businesses, with sales of around USD10 million (MYR33.8 million) to USD100 million (MYR338.1 million) per annum in resilient industries such as education, healthcare, food and beverage, light manufacturing, retail and distribution, consumer products as well as environmental management.
A strong positioning of the investee companies combined with active involvement by the fund manager has enabled the fund to maintain its performance despite the current challenging economic conditions. Except for the manufacturing sector, all the investees continue to chart positive growth. The healthcare-related, retail food and environmental management investee companies are expected to record double digit growth in 2009. The manufacturing investees are recording sharp recovery in the second half of the year which demonstrates the fundamental strengths.
Note: Performance is based on fund manager valuation as per the quarterly statement to Al Faiz Fund 1 investors. The period is based on year-to-date September 2009.
