Argyll unveils trio of Shariah funds

Added 27th June 2011

Argyll Investment Services, a Guernsey-based fund manager, has launched a trio of Shariah funds

World Shariah Funds PCC is listed on the Channel Islands Stock Exchange and contains three investment strategies from three different fund managers; Malaysia’s Reliance Asset Management, CIMB Principal Asset Management Berhad, a Malaysian and US joint venture, and Markaz of Kuwait. The three fund groups have combined assets under management of more than US$13bn.

Companies held within the three funds are excluded from dealing in alcohol, tobacco and pornography, among other industries, and are also not allowed to have highly leveraged balance sheets. 

The funds aim to outperform their relevant Islamic equity indices.

Stuart Place, marketing director for Argyll, said: “Following the first phase of the world credit crisis, investors are more wary of holding heavily indebted companies in their portfolios. The filter process for the World Shariah Funds eliminates such businesses as non-compliant under Shariah principles.

“As the next phase pans out, less leveraged companies will be less dependent on bank finance and should have more robust balance sheets; an attractive proposition in the search for value.”

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

International Adviser is aimed at global intermediaries who advise their HNW clients on International fund, life and banking products and tax efficient solutions to their cross-border needs

To subscribe to International Adviser's news bulletins and apply for a magazine subscription click below

Editor's Pick

China Universal sets out European expansion plans
China Universal sets...

Shanghai-based China Universal Asset Management has...

FCA appoints two following chief exec sacking
FCA appoints two following...

The Financial Conduct Authority (FCA) has announced...

IOMA Group chief executive spins away investment arm
IOMA Group chief executive...

The asset management arm of Isle of Man-based IOMA...

top

Other Stories From

lastword