frontierAlt Introduces Canada's First Income Fund Based on Islamic Investment Principles



    Company builds on leadership in Shari'ah-compliant category

    TORONTO, Aug. 20 /CNW/ - frontierAlt Oasis Funds Management today
announced that it has launched the frontierAlt Oasis Global Income Fund, the
first income fund in Canada based on Islamic, or Shari'ah, investment
principles. Islamic investment principles preclude investments in securities
of companies dealing in certain products and/or services and operating with
high financial ratios of liquid assets, debt or interest income. These
principles also require purification of income streams for purging any
prohibited elements.
    "As Canada's first Shari'ah-compliant income fund and the first to invest
in sukuk, this is a unique investment product in the Canadian market," said
Asif Khan, President and CEO, frontierAlt Oasis Funds Management. "We believe
this fund is an excellent income alternative for Muslim investors and provides
an opportunity for all Canadian investors to participate in this growing
investment category."
    Mr. Khan added that the introduction of the frontierAlt Oasis Global
Income Fund builds on the Company's leadership position in Shari'ah-compliant
investing. The fund is the third in frontierAlt's Oasis fund family, all of
which are managed by Zaigham Shah, Chief Investment Strategist, MAK, Allen &
Day. Mr. Shah has over 12 years of investment management experience across
various asset classes and portfolio management strategies within the Gulf
Region.
    The Fund focuses on investing in select Shari'ah-compliant companies
within the Dow Jones Islamic Market Index that have demonstrated consistency
in rewarding their shareholders with strong dividend payments. In addition,
the fund will invest in sukuk, the Islamic equivalent of a bond. Sukuk
represent a Shari'ah-compliant proportionate or undivided ownership interest
in a designated asset/service or a pool of assets/services. Unlike
conventional bonds, sukuk do not pay interest, which is not permitted by
Islamic investment principles; instead, they provide investors with a form of
income from the underlying assets or services. This is the first time this
asset class is available to Canadian retail investors.
    The Fund pays a monthly distribution and will distribute any excess
income and capital gains annually in December.
    Additional information about the Funds is available in the Simplified
Prospectus. You can get a copy of these documents by calling the company at
416-360-6226 or toll-free at 1-866-745-5545 or by e-mail to
oasis@frontieralt.com or from your Dealer. These documents and other
information about the Funds, such as information circulars and material
contracts, are also available on the company's website at www.frontierAlt.com
or at www.sedar.com.

    About Sukuk

    Sukuk represent a Shari'ah-compliant proportionate or undivided ownership
interest in an asset or a pool of assets. Unlike conventional bonds, sukuk do
not pay interest, which is not permitted by Islamic investment principles.
Rather, they provide investors with a form of income from the underlying
assets or services. Certain types of sukuk may be rated by a credit rating
agency similar to conventional bonds depending on the stability of their cash
flow.

    About frontierAlt Oasis Funds Management

    frontierAlt Oasis Funds Management is a wholly owned subsidiary of
frontierAlt Capital Corporation. Based in Toronto, frontierAlt Capital
Corporation specializes in the manufacturing and distribution of structured
products, flow-through limited partnerships and mutual funds. For additional
information on the company, visit its website at www.frontieraltcom.





For further information:

For further information: Asif Khan, President and CEO, frontierAlt Oasis
Funds Management, (416) 623-3161, akhan@frontieralt.com; Kurankye Sekyi-Otu,
Director, frontierAlt Oasis Funds Management, (416) 623-3171,
ksekyiotu@frontieralt.com

Organization Profile

FRONTIERALT FUNDS MANAGEMENT

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890