Shariah fund
Invest in a Shariah compliant fund that aligns with your beliefs
Our Shariah compliant fund allows you to save towards your goals in a way that aligns with your beliefs. There are a range of products that invests in this fund, so you can save for your own or your child's future. The fund offers a halal investment approach, and although you do not have to be of Islamic faith to invest in this fund, you should be aware of how the fund invests to ensure it is right for you.
Foresters (Schroders) Managed Islamic Global Fund
The fund is professionally managed by Schroders and invests in the Schroder Islamic Global Equity Fund. Aiming to grow your investment over the medium to long-term, by investing in a Shariah compliant portfolio of shares from around the world.
The fund will only invest in companies included in the Dow Jones Islamic Market World (Net Total Return) Index. A Shariah Supervisory Board and Shariah Adviser have been appointed to ensure all investments in the fund meet Shariah Investment Guidelines. Amanie Advisors Ltd have been appointed as the Shariah Advisor.
The Shariah Supervisory Board, made up of Shariah Scholars, is responsible for issuing the launch fatwa in respect of the fund and provide guidance, adhoc views and review the operations and investments of the fund, via the Shariah Advisor. The operations are reviewed regularly and reported quarterly to ensure the continuing compliance of the fund with Shariah Investment Guidelines.
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The fund may not invest in companies where more than 5% of their total income is made from prohibited activities or industries, such as below...
Alcohol and tobacco
Entertainment inc. Hotels/gambling
Pork-related products
Non-Islamic financial services
Weapons and defence
For more information about how the fund is invested read the Important information and Key Information Document for that product.
Also, any company whose financial arrangements are considered unsuitable for Shariah compliance such as unacceptable amounts of debt, cash or interest bearing securities. As the fund is managed in line with Shariah Investment Guidelines, it may perform less well than other funds that do not strictly adhere to these criteria.
What happens to investments which become non-compliant?
It is the intention to observe the Shariah Investment Guidelines at all times but this may not always be possible as there may be occasions when a company becomes non-compliant. The requirement to ‘purify’ prohibited income (and potential investment gains where companies become non-compliant) is likely to result in payments to UK registered charities that have been approved by the Shariah Supervisory Board. These payments could reduce the fund’s performance compared with other funds that do not strictly adhere to the Shariah Investment Guidelines.
Open a Shariah savings product with Foresters
Take a look at the products that we offer that allow you to invest in the Shariah fund.
Want to save towards your future
Take a look at our Shariah ISA, Shariah Lifetime ISA or Shariah Savings & Investment Plan
Want to save towards your child’s future
Take a look at our Shariah Junior ISA
If you or your child already have a Child Trust Fund - Shariah with us
When they turn 18 they will have the option to reinvest in a Shariah ISA
If you would like to switch a Child Trust Fund to Foresters
Take a look at the transfer options available
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