Tag Archives: Islamic Mutual Funds

Australian Shariah compliant Islamic mutual fund gains global appeal

Australian Shariah compliant Islamic mutual fund gains global appeal

Sydney_Opera_House

Australia’s LM Australian Alif Fund continues to service untapped global demand for a Shariah compliant, currency protected investment product managed by an experienced, credible Australian funds manager.

The fund is managed by LM Investment Management Ltd (LM), a specialist Australian income funds manager operating internationally from its six offices on the Gold Coast, in Sydney, Hong Kong, Auckland, London, and Dubai, currently with sources of new business inflows from beyond 32 countries.

The LM Australian Alif Fund leverages off LM’s eleven year track record and takes advantage of Shariah compliant investment opportunities throughout Australia’s diverse property and business markets, with assets selected on the basis of performance and integrity.

The fund is endorsed as Shariah compliant, with signed fatwa from the Shariah Supervisory Board, comprising four eminent globally renowned scholars.

According to LM Chief Executive Peter Drake, the LM Australian Alif Fund benefits from "Australian only" assets, and the soundness of the underlying fundamentals of the Australian property market.

"Unlike the rest of the world, Australia has not, and is not, experiencing large declines in values across its property markets.  There has been minimal movement up or down, thus presenting attractive, alternative investment opportunities for global investors."

According to Drake, the fund’s global appeal is further supported by the fund’s "uniqueness" and "untapped" global demand.

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Shari’ah-compliant stock index in Canada launched

Shari’ah-compliant stock index in Canada launched

toronto stock exchange

Turns out, the Canadian stock market is a good place for Islamic investors.

On Wednesday, Standard & Poor’s launched the S&P/TSX 60 Shariah Index, which is essentially the S&P/TSX 60 index stripped of companies that do not meet Shariah principles that keep investors away from interest-charging companies (banks), pork producers, alcohol producers, casinos and tobacco companies.

The good thing about the Canadian blue chip index is that, apart from banks, there isn’t a whole lot of these no-no companies around. No tobacco. No casinos. No alcohol. No pork.

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