QInvestâ€™s Income-generating Ijarah Fund oversubscribed
Qatar-based QInvest, has successfully launched its QInvest SQN Income Fund (the “Fund”), with it being oversubscribed.
The Fund, which is a Shari'ah compliant closed-ended fund, provides an opportunity for investors to access income generating assets in developed markets. It aims to pay out a net yield of seven per cent per annum on a monthly basis and has a targeted IRR of between eight per cent and nine per cent, with a tenure of five years. The Fund was launched in collaboration with SQN Capital Management, a global asset-based investor and fund manager.
“In response to the growing investor demand for more innovative, income-generating, Islamic products, QInvest is proud to expand its product offering and bring to the market a fund that provides attractive returns and a regular income distribution, all within a relatively conservative investment profile. It also provides investors with concentrated portfolios with means of diversification and risk mitigation,” said Tamim Hamad Al-Kawari, Chief Executive Officer of QInvest.
The Fund invests in the leasing and financing of business-essential, long-life, revenue producing equipment across developed markets. The fund is designed to deliver non-correlated returns through diversified investments across various industries including, but not limited to, healthcare, manufacturing, and agriculture, in a manner that avoid cyclicality.
“This partnership with SQN allows us to offer our investors a compelling investment opportunity, which combines our Islamic structuring expertise with SQN’s equipment leasing proficiency. SQN is an asset finance and equipment leasing specialist with a long track record in the equipment leasing sector. It is very much in line with our strategy to build relationships with leading distribution partners across the globe, to ensure we bring the most innovative and diversified products to our investors,” said Dr Ataf Ahmed, Managing Director and Head of Asset Management at QInvest.
On the back of the strong demand from investors, QInvest plans to launch another fund in the same series later this year.
“SQN is proud to be partnering with the globally recognised Asset Management team at QInvest to bring high-quality programmes to sophisticated investors seeking regular income with downside protection. This collaboration with QInvest provides us with an exciting opportunity to develop a distinctive investment proposition for investors in Qatar and across the GCC. We look forward to a long and collaborative partnership,” said Jeremiah J. Silkowski, President and Chief Executive Officer at SQN.