Saturna Al-Kawthar International Targeted Fairness UCITS ETF (AMAL) is claimed to adjust to the Shariah rules whereas integrating ESG scoring into the funding course of.
The Islamic-focused ETF is managed by Saturna Capital, a $6bn asset administration agency based mostly within the US, which HANetf highlighted is among the largest managers of Islamic-compliant belongings within the US.
AMAL will observe an identical funding philosophy and method of Staurna’s US-registered Amana Development, Amana Earnings and Amana Growing World funds, which additionally incorporate Islamic and ESG pointers.
Jane Carten, president of Saturna Capital, mentioned: “For a number of years traders from outdoors the US have requested how they might entry our funding methods and we’re excited to have this chance to supply an Islamic UCITS ETF to these traders.”
Hector McNeil, co-CEO of HANetf, mentioned: “Energetic ETFs are the following frontier for the European ETF market. Regulators have performed a serious function within the rise of energetic ETFs within the US and what occurs within the US tends to observe right here.
“Sometimes, the US is two-to-three years forward in AUM development and product innovation. If that is so, then it is just a matter of time earlier than energetic ETFs grow to be commonplace in Europe.”
The Islamic-focused ETF is listed on the London Inventory Change, Borsa Italiana and Germany’s XETRA.
Saturna Capital and HANetf partnered earlier in 2021 to launch the Saturna Sustainable ESG Fairness HANzero UCITS ETF (SESG), an actively managed, ESG ETF.