Global Alliance Value Investors has entered into a joint venture with The Securities House, a Kuwaiti investment management company, to form Global Securities House, a firm that will make stock selections based on Islamic principles. Global Securities will develop Islamic screens to determine the compliance of stocks worldwide, do the asset allocation for clients and hire subadvisers for investment styles not managed by GAVI. The new company expects to have assets under management by September, said Nancy Tengler, CIO for Global Alliance.
Ms. Tengler also is chief executive of Global Securities House.
