Investment Approach

The Fund aims to provide a total return, considering both capital and income returns, reflecting the total return of developed and emerging equity markets in line with Shari'ah investment principles.

The Fund is passively managed and will invest, in line with Islamic law (Shari'ah), in a portfolio of equity securities that so far as possible and practicable consists of the component securities of the WTW Islamic Global Equity Diversified Index, the Fund's benchmark index (Index). The Index, custom built by MSCI on criteria provided by Willis Towers Watson, aims to reflect the performance characteristics of a subset of equity securities within the MSCI ACWI Islamic M-Series Index (Parent Index). The Index applies stringent screens to exclude certain securities based on Shari'ah principles in agreement with the MSCI appointed Shari’ah board.

The Fund uses optimising techniques to achieve a similar return to its Index, which include the strategic selection of certain securities that make up the Index. The Fund may hold securities which are not underlying constituents of the Index where such securities provide similar performance (with matching risk profile) to certain securities that make up the Index, provided that this is in line with Shari’ah.