Dubai Fund-of-Funds Now Open To New Investors-- Sinners, Short-Seller Sympathizers Not Welcome

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If you haven't already invested your $1,000 with Bernett Diversified Global Fund and are looking to get in the game, take two to consider Dubai Shariah Asset Management's Kauthar Commodity Fund, which is opening its doors for the first time since launching last year. Here are the relevant deets:

* The fund posted a 41% return for '09

* Up more than 1% through March 28

* Minimum investment: $5 million

* Prime broker: Barclays Capital

* DO NOT WANT:

DSAM is drawing interest from major Islamic banks that cater specifically to wealthy clients seeking investments that don't violate shariah. These investors avoid companies engaged in perceived vices such as gambling or alcohol. They also shy away from firms that rely on interest revenue or that carry heavy debt burdens. Short selling, or selling a borrowed stock in hopes of repurchasing it at a lower price, is also prohibited.

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