Alternative Investments/ESG: World’s First Actively Managed Sharia ETF To Debut in London

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The ETF will comprise high quality, Shariah-compliant global stocks.

Almalia is a financial services group focused on innovation in Islamic finance, especially Shariah-compliant investments that are also sustainable and ethical. Headquartered in London, and having a presence in the UAE, Almalia has launched the world’s first actively-managed global equity ETF which is compliant with Shariah laws. (ETF Stream)

Almalia Sanlam Active Shariah Global Equity UCITS ETF (AMAL)

The new ETF from Almalia, which used the services of white-label platform HANetf, has a total expense ratio of 0.99%.

Almalia has tied-up with Sanlam Investments UK for the management of the assets of the ETF. The latter will employ a high-quality strategy for investments. The managers would look for capital growth over the medium to long-term.

However, assets would be Shariah-compliant. For this purpose, Amanie Advisors, an Islamic finance consultancy, will oversee the investment screening process. That will ensure the ETF is asset-backed, ethical, shares risks equitably, and is subject to good governance.

Pieter Fourie, head of global equities at Sanlam, said: “The launch allows us the opportunity to demonstrate that active management using high quality-based investment principles within the parameters of a Shariah-compliant universe can add significant value to investors.”

 

“With this fund launch we believe an underserviced market can be given a better outcome, by following the same strategy as our global high-quality fund which invests in businesses that have durable business models, wide economic moats, and the ability to deliver significant shareholder value over the long term,” he added.

Listing

The Almalia Sanlam Active Shariah Global Equity UCITS ETF (AMAL), will list on the London Stock Exchange on Wednesday.

According to the FT, the ETF will also cross-list in Germany and Italy in October.

Related Story:   Shariah Compliant UAE Equity ETF From Chimera Capital

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