DSAM Kauthar Gold Fund: Tocqueville Asset Management
Dubai Multi Commodities Centre, an arm of the Dubai government, invested $150 million in three commodity-related hedge funds that will trade commodity equities in compliance with Islamic religious principles. Two more funds are expected to join the first three for a total seed investment of $250 million.
Three separate funds – managed by Tocqueville Asset Management, Zweig-DiMenna International Managers and Lucas Capital Management – have each been given $50 million to make investments that comply with Shariah law.
They will invest in commodity-related stocks ranging from oil to gold and are the first funds to become part of Dubai Shariah Asset Management (DSAM), a joint venture between Shariah Capital and Dubai Commodity Asset Management, a wholly owned division of Dubai Multi Commodities
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