The world’s first actively managed global equity Shariah-compliant ETF will be launched on the London Stock Exchange by financial services group Almalia using the HANetf platform.
The Almalia Sanlam Active Shariah Global Equity UCITS ETF (LON:AMAL) will be managed by Sanlam Investments UK with the aim to achieve capital growth over the medium to long term while complying with the principles of Shariah investment.
Companies will be chosen for high returns on capital and low leverage and be overseen by a Shariah panel of scholars from Amanie Advisors to ascertain the ETF’s on-going compliance with the principles of Shariah Investment.
Paul-David Oosthuizen, Almalia's chief executive, said: “We are proud to be the first to launch an actively managed Shariah-compliant global equities ETF.
"This ETF may be suitable for investors looking for an actively managed strategy with a focus on good governance, as well as those who wish to invest in a Shariah-compliant way.”
Nik Bienkowski, Co-CEO of HANetf added: “We are delighted that Almalia chose us to help them develop and launch the world’s first actively managed Shariah-compliant ETF.
"Active ETFs are currently relatively few in number but represent a huge growth opportunity.”
HANetf added that AMAL will be the 10th and first actively managed ETF on the platform since it launched in October 2018