Columbia Threadneedle launches sharia-compliant fund

Luxembourg-on_mapColumbia Threadneedle Investments has launched a Luxembourg-domiciled, sharia-compliant equity fund in partnership with Gatehouse Bank. Managed by Simon Haines, the Shariah Global Equity Fund will invest in between 50 and 80 global equities and attempt to outperform the MSCI Islamic M-Series index, its benchmark. “Integral to what defines quality in the context of the Shariah fund is our belief that well-governed companies are better positioned to manage risks and challenges inherent in business and to capture opportunities that should deliver sustainable growth and returns over time,” said Haines. In 2015, Columbia Threadneedle Investments took a minority stake in Gatehouse Bank, a London-based, sharia-compliant lender. Columbia Threadneedle, which has £373 billion ($467 billion) under management, is a subsidiary of US-based Ameriprise Financial. ©2017 funds global mena

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