Global asset manager Schroders has launched the Islamic Global Equity Fund for UK domiciled investors.
The fund employs an integrated, multi-factor investment approach, which seeks to outperform the Dow Jones Islamic Market World Index over a three-to-five-year period.
It will be managed by the Schroders Systematic Investments (SSI) unit, which seeks to provide factor-based investing to support clients’ investment needs.
Schroders “worked closely with an external Shariah Adviser” to develop the fund and it has also been certified by an independent external Shariah Supervisory Board.
Demand
Doug Abbott, head of UK intermediary, Schroders, said: “Schroders is uniquely positioned to offer our clients access to a global investment universe comprising of over 2,600 stocks[1] that have been rigorously screened to ensure adherence with Shariah Law.
“The fund maintains features such as dividend income purification, whereby any dividend income deemed non-Shariah compliant is donated to charity.
“We recognise that Shariah-compliant investors have been underserved by the market and we are delighted to leverage our long-standing investment expertise to address this gap.
“The launch of this fund is a great example of our ability to build solutions in response to demand from our clients and to increase the range of innovative investment products we offer to investors in the UK.”
Multi-asset launch
London-headquartered asset manager 1OAK Capital has launched the first of three multi-asset funds to investors.
The 1OAK MA80 Fund is managed by 1OAK Capital in London. The fund is a daily traded Ucits sub fund of the Montlake UCITS available to retail and professional investors.
The initial offer period closes on the 18 December.
It is available to retail investors in the UK, but also to those outside of the UK through lifebonds.
Details
The multi asset funds offer exposure to a diversified portfolio of equities, bonds and alternative assets.
The active asset allocation is guided by BlackRock.
The MA80 fund is the first of three funds that have been approved and which will launch over the next few months.
The fund aims to offer capital appreciation over the medium to long-term and has a benchmark allocation of 80% to equities and 20% to bonds and fixed income securities.
Working with advisers
Giles Rothwell, the president of 1OAK Capital, said “We are delighted to start to roll out the 1OAK funds now.
“This is a project that we have been working on for a good part of this year. We have been working with advisers in the UK and internationally to ensure that we have a fund range that meet the needs of their clients.
“In addition, we are receiving material interest from European investors for whom the income paying share classes are particularly attractive.”
