BarCap launches sharia hedge fund platform

Barclays Capital has launched an Islamic investment platform it claims provides sharia-compliant access to hedge funds. Called Al Safi, the platform will initially comprise five commodity-focused hedge funds: New York-based BlackRock, Ospraie Management, Tocqueville Asset Management and Zweig-DiMenna International Managers, and New Jersey-based Lucas Capital Management. Fund managers will be able to trade equities long and short, apparently responding to what had previously been the biggest c

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