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CLR: Creation of fund of $100mln from Tufton Oc. and Dubai Isl. Bank

CLR Capital Limited announces that its subsidiary company Tufton Oceanic Finance Group Limited (Tufton), has established, together with Dubai Islamic Bank, a $100.000.000-fund for investments to the shipping sector. The fund is aimed for the financing of businessmen and ship owners in the Gulf area.

Tufton will manage the fund and receive managerial fees based on international fund management fee levels.

Tufton is a Group of companies that offers consulting services and manages funds, with expertise in the shipping and the oil sector. Its subsidiary company Tufton Oceanic Limited was established in 1976, it based in London and it is controlled by the Securities Commission of the United Kingdom (FSA).

The establishment is proof of the trust shown by the sector on Tufton. In addition, the management of the fund is expected to have positive effects in the future on the results of Tufton and consequently, on CLR Capital Limited.
Friday, 12 December, 2003 - 09:41