Dubai, UAE – September 9th, 2013 – Al Mal Capital is very pleased to announce its appointment as local sponsor and promoter in the United Arab Emirates of the Phoenix Legal Financing Fund I pursuant to a Promotion and Distribution Agreement with Centaur Asset Management Ltd., the fund’s investment advisor. Al Mal Capital has applied for and received the approval of the Emirates Securities and Commodities Authority for promotion and distribution of the Phoenix Legal Financing Fund I in the UAE.
Tariq Qaqish, Head of Asset Management at Al Mal Capital, said: “We are excited to present to our valued clients the opportunity to invest in the Phoenix Legal Financing Fund I which represents an unique alternative investment uncorrelated to traditional investments such as equities, property or bonds.”
Howard Nicholson, Chief Operating Officer of Centaur Asset Management, said: “We are delighted to partner with Al Mal Capital for the promotion and distribution of the Phoenix Legal Financing Fund I in the UAE. Al Mal’s reputation as a premier asset management firm in the UAE will allow the fund gain critical mass exposure giving us greater opportunities to highlight the fund’s unique investment strategy, performance and growth initiatives to a key investor base in the region.”
Phoenix Legal Financing Fund I launched in November 2012 and to date has achieved a return of over 10% within its lead share series. The funds’ investment strategy is to make investments in legal claims and disputes. The fund targets an annual return of 12 to 18 per cent. The subscription investment of investors in the Phoenix Legal Financing Fund I is capital protected through layers of insurance policies.
ABOUT AL MAL CAPITAL
Al Mal Capital is a diversified, multi-line investment institution, licensed and regulated by the Central Bank of the United Arab Emirates and headquartered in Dubai. The Company commits to uphold the highest levels of service quality, integrity and corporate governance standards, and places a strong emphasis on the company’s principles in conducting business. Al Mal Capital offers a wide range of investment products and services for institutions, banks and HNWI’s, encompassing Investment Banking, Asset Management, and Brokerage.