Shariah Funds Inc introduces the first Islamic hedge fund aided by scholars

The first Islamic fund of hedge funds will launch this quarter in a bid to tap into capital from Islamic families and institutions keen to meet the requirements of Shariah law.

Shariah Funds Inc, a division of Meyer Capital Partners, a US-based investment management firm, plans to launch the product with the help of Islamic scholars.

As first reported in HFR in October, the group will approve processes, giving hedge fund managers the ability to use options and short selling in their portfolio

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