named Mena Sukuk Manager of the Year at the Global Investor/ISF Investment Excellence Awards earlier this year. He says the win is a "reflection of our strong commitment to deliver superior products to our investors through our disciplined research-driven approach to fund management". This year, the Emirates Global Sukuk Fund has delivered an impressive 7.96% year-to-date (as of August 31 2012), and has recently been graded Silver by S&P. The Jersey-based offshore fund outperformed its benchmark by 2.18% in 2011 to return 5.03% and has announced a dividend of 2% for the first half of 2012. It is a sharia compliant open-ended fund, denominated in US dollars, that invests in a diversified portfolio of sukuk issued by companies and governments. The primary objective of the fund is to achieve high income as well as capital growth and it is managed from a long-term investment perspective based on fundamentals and value. The fund has a diversified investor base including corporate pension schemes as well as insurance platforms. According to the firm, there are significant inefficiencies in the regional fixed income market that can be exploited through active management and security analysis. The team's investment philosophy centers on credit research and relative value analysis on short to long term sukuk as well as yield curve management and issuer/issue selection. A large proportion of the team's returns are generated from its macro asset allocation strategy based on careful analysis of long-term secular trends. "We are proud to receive this important award, which recognises