JO Hambro Capital Management has launched a Shariah Global equity fund.
The Global Select Shariah Fund will invest in a concentrated portfolio of global Shariah compliant securities with the aim of providing investors with long-term total returns.
It will exclude companies that are considered non compliant with Shariah investing, including financial services, gambling and defence stocks.
To ensure the fund is fully Shariah compliant, JO Hambro uses a data screening provider that provides a list of Shariah compliant stocks and a Shariah adviser who monitors and reviews the fund structure and investments.
The fund comes out of JO Hambro’s institutional Global Shariah mandate, which has been managed since December 2013.
It will be headed up by fund manager Nudgem Richyal, who will follow the same investment process as the International Select and Global Select strategies that he co-manages. It involves considering stock, sector and country factors and how they change over time, looking at the behaviour of each share price to determine the most important driver of each prospective investment.
TJ Voskamp, head of distribution – UK, Europe & Asia, commented: “We’re delighted to bring this product to market by adding to our very successful franchise in International and Global Select. We have seen significant interest from clients for a strategy like this and we’re excited about its potential.”
Nudgem Richyal, portfolio manager, said: “I am proud and excited to launch the JOHCM Global Select Shariah Fund. This has been a successful institutional mandate that we have run for over eight years and given growing client demand we felt the time was right to bring it to a wider audience. By applying the successful and long-established process within our Global and International Select Funds into a Shariah compliant vehicle we feel we can generate compelling returns for a large number of traditionally underserved clients.”
[Main image: kyle-glenn-nXt5HtLmlgE-unsplash]
