A sharia-compliant fund that aims to provide steady capital growth and a total portfolio return that is better than the average general equity fund.
In order to achieve its objectives, the fund will generally be invested in a diversified portfolio of South African equities subject to the statutory investment limitations. The fund employs our investment process, with several filtering layers implemented over and above this. The underlying investments will comply with Sharia requirements as prescribed by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
Who should invest?
This fund is suitable for Muslim investors in their wealth accumulation phase who are seeking a Sharia-compliant portfolio of South African equities. Investors would be able to withstand short-term market fluctuations in pursuit of maximum capital growth over the long term.
*Average performance in South African Equity General unit trust universe.
Performance is based on a lump sum investment using Class A Net Asset Value (NAV) prices with income distributions reinvested. Performance figures are quoted after the deduction of all costs incurred within the fund. Source: Morningstar
Minimum investment and fees (excl. VAT)
Lump sum: R5 000 and/or monthly debit order of R500
Initial fee: 0.00%
Financial adviser fee (maximum): 3.00%
Ongoing advice fee (maximum): 1.00% per annum
Management fee: 1.25% per annum with effect from 1 October 2014