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

Editor's Pick

Record low gov't bonds see rising interest in spread trading
Record low gov't bonds...

With global growth slowing and developed-market government...

Axa Insurance Ireland fined for adviser competency breaches
Axa Insurance Ireland...

The Central Bank of Ireland has fined Axa Insurance...

Global ETF assets under management to exceed $7trn by 2021
Global ETF assets under...

Growth is exchange traded funds (ETFs) is expected...

Promoted Content

OTHER STORIES FROM LAST WORD...