NO. 21


Financial and Banking News

Investment Funds

United Bank Of Kuwait Raises $16.2Mn For Oil-Linked Fund

London-based United Bank of Kuwait (UBK) has raised $16.2mn for itsclosed-end oil investment fund. The fund, whose full name is The Oil InvestmentLinked Deposit (shortened to `Oil'), is a three-year deposit which is linked toprice movements of West Texas Intermediate (WTI), the main US benchmark crude.At the beginning of each year the fund establishes a strike...