A group of former Barclays executives are launching a London-based asset management firm that combines socially responsible and Islamic investment principles, seeking to build crossover appeal among both investor segments.
Reuters reports that the firm, named Arabesque, is due to open to investors in the first quarter of 2014 with a team led by 20-year veteran Omar Selim, Barclays' former head of global markets for institutional clients in Europe, the Middle East, Africa and eastern Europe.
It will focus on value-based investment strategies, which buy shares deemed to be trading at a discount to their fundamental worth. Its methodology will use environmental, social and corporate governance (ESG) criteria.
'Implementing ESG is not meant to patronise anyone, quite the contrary - it is for performance, and extensive academic research supports this', said the Egyptian-born Selim.
'Our objective is to make sustainable investment attractive and available to all investors regardless of the economic and cultural background'.
To access the complete Reuters article hit the link below