Jadwa Investment, a Saudi Arabia-based investment management and advisory firm, has signed a distribution deal with Allfunds Bank (AFB), a Spain-based mutual fund platform, to launch shariah-compliant mutual funds to international investors across AFB’s global platform.

Under the deal, Jadwa’s portfolio of public equity and fixed income funds will be available across AFB’s global network of 33 countries including commercial banks, private banking institutions, fund managers, insurance and takaful companies and fund supermarkets.

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The agreement will enable Jadwa to provide actively managed and passively managed (indexed) shariah-compliant funds on AFB’s platform.

Jadwa Investment head of asset management and CIO Zaheeruddin Khalid said: "This partnership allows financial institutions on AFB’s platform to provide their clients with access to Jadwa’s portfolio of high performance regional and global funds.

"Through Jadwa funds on the AFB platform, investors can now access the MENA markets in general and Saudi market in particular with relative ease. Jadwa’s Global Sukuk Fund with a track record going back to October 2007 could also be an interesting option for low risk investors, given the growing shariah compliant debt market."

Jadwa Investment currently has assets under management worth over $5.3bn across public equity, private equity, real estate, and fixed income investments, of which more than 60% are from institutional investors.

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Founded in 2000, Allfunds Bank has more than $220bn in assets under intermediation and operates via 60,000 bank branches, 25,000 financial advisor and private bankers as well as 20,000 life insurance branches.